"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers & buyers almost always negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the closing costs result from getting your mortgage loan. Since Great Mortgage NMLS#478647 has extensive experience with closings & mortgages, we are closing cost experts.
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we cannot always predict costs to the penny. We handle buyers' questions about closing costs every day at Great Mortgage NMLS#478647, so don't hesitate to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Great Mortgage NMLS#478647, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Costs related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Up-front Interest Payment Escrow Fees Various Taxes
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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