There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually split these costs, as the sales contract specifies.
As the list below indicates, many of the costs result from getting your mortgage. Since First Southeast Mortgage Corporation has extensive experience with mortgages and closings, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on First Southeast Mortgage Corporation's experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we'll 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
TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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