Every home sale involves certain fixed costs. Sellers and buyers usually split these closing costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying residential real estate are associated with getting a mortgage. Since Executive Lending Group has extensive experience with mortgages & closings, we are closing cost experts.
Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We go over Loan Estimates with buyers every day, so we are happy to answer the you have about closing costs.
Below is a generic list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Fee Getting Your Credit Report Up-front Interest Payment Escrow Account Taxes Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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