"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers & sellers almost always negotiate the payment of these costs.
As the list below indicates, many of the closing costs result from getting your loan. Since Executive Lending Group has extensive experience with mortgages & closings, we can help you understand your closing costs.
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Executive Lending Group's experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We handle buyers' questions about these costs every day at Executive Lending Group, so please feel free to contact us if we can help answer your questions.
Below is a fairly general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Points — lower your mortgage interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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