There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily share these costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Executive Lending Group, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on Executive Lending Group's experience with mortgage loans, but costs often change by small amounts between the LE and closing. We review Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, 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 Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Account Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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