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 costs associated with buying residential real estate are associated with getting a mortgage loan. At First Southeast Mortgage Corporation, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage 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 costs specified in the LE are estimated based on our experience with mortgage loans, but costs often vary a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your application. At First Southeast Mortgage Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional)
Recording Fees & Transfer Taxes Insurance
Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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