"Closing Costs" are the fees that cover the various services involved in the sale of a home. Sellers and buyers almost always negotiate these closing costs.
As the list below indicates, many of the closing costs result from getting your mortgage. Since Abundance Home Mortgage has extensive experience with closings and mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Abundance Home Mortgage's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.
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 complete your loan application. At Abundance Home Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Up-front Interest Payment Escrow Account Various TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Getting YourCredit Report
Insurance Transfer Taxes and Recording Fees
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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