"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Buyers & sellers negotiate the payment of these costs.
As you'll see below, many of the closing costs result from getting your loan. At First Southeast Mortgage Corporation, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Very shortly after you submit your application, we'll give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We answer buyers' questions about these costs every day at First Southeast Mortgage Corporation, so don't hesitate to contact us if you have questions.
Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Escrow Account TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment
Transfer Taxes and Recording Fees Insurance
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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