"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers and sellers usually negotiate these costs.
Many of the closing costs associated with buying a house are associated with getting the mortgage. At First Southeast Mortgage Corporation, we have extensive experience in mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Points — lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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