There are certain standard costs related to closing the sale of a home. Sellers and buyers almost always split these costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting a mortgage loan. At Abundance Home Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing 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. This cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always predict your costs to the penny. We review LEs with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
Below you'll find a general 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 — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesLoan Origination Fee
Insurance Transfer Taxes & Recording Fees
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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