"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers usually negotiate these closing costs.
As indicated below, many of the buyer's costs cover the costs of getting the mortgage loan. Since Executive Lending Group has extensive experience with closings and mortgages, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We review Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed 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 Loan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Escrow Fees Various Taxes Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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