Every home sale involves fixed costs. Buyers and sellers almost always split these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. At Executive Lending Group, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate 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 review LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
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 have completed your loan 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
Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Pulling YourCredit Report
Transfer Taxes & Recording Fees Insurance
Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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