There are certain standard costs associated with closing the sale of a home. Buyers and sellers almost always share these closing costs, as the sales contract specifies.
As indicated below, many of the closing costs result from getting your mortgage loan. At Custom Lending Group, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We review Loan Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your application. At Custom 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 Loan-Related Costs TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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