"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers & buyers usually negotiate to determine who will pay different portions of these closing costs.
Many of the closing costs associated with buying a home are associated with getting a mortgage loan. Since First Southeast Mortgage Corporation has extensive experience with mortgages and closings, we are closing cost experts.
Very shortly after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. This closing cost estimate is based on our past experience. Please note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We go over LEs with buyers every day, so we are happy to answer the you have about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At First Southeast Mortgage Corporation, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Account Various TaxesLoan-related costs
InsuranceRecording Fees and Transfer Taxes
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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