All residential real estate transactions incurs costs. Buyers and sellers almost always split these closing costs, as specified in the real estate sales contract.
As the list below indicates, many of the costs result from getting your mortgage. Since Executive Lending Group has extensive experience with closings and mortgages, we can help you understand your closing costs.
Very shortly after you submit your application, we will give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive 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 will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can change slightly at closing.
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'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Fees TaxesCosts associated with "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Fee Getting YourCredit Report Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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