"Closing Costs" are the fees which cover the various services involved in the sale of a home. Sellers and buyers negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying a home are associated with getting a mortgage loan. At Executive Lending Group, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we will provide you with the "Loan Estimate" of your costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We review LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a general list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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