Certain standard costs are associated with closing the sale of a house. Sellers and buyers usually share these closing costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. At Executive Lending Group, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We go over LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.
Below you'll find a general list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Pulling YourCredit Report Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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