Every home sale involves certain fixed costs. Buyers and sellers usually share these costs, as the sales contract specifies.
Many of the closing costs associated with buying residential real estate are associated with getting a mortgage loan. Since Executive Lending Group has extensive experience with mortgages & closings, we often explain the details of closing costs.
Soon after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the Loan Estimate (LE) and closing. We field buyers' questions about these costs every day at Executive Lending Group, so don't hesitate to contact us if we can help answer your questions.
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 complete 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
TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Fees
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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