"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers and sellers often negotiate the payment of these closing costs.
As indicated below, many of the closing costs result from getting your mortgage. At Executive Lending Group, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on Executive Lending Group's experience with mortgage loans, but costs often vary by small amounts between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your application. At Executive Lending Group, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Escrow Account TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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