There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually split these costs, as specified in the sales contract.
Many of the closing costs associated with buying residential real estate are associated with getting the loan. At Executive Lending Group, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We explain LEs with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your loan 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 Costs associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Escrow Account Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.