"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Sellers & buyers almost always negotiate these costs.
Many of the closing costs associated with buying a home are associated with getting the loan. At Abundance Home Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
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 Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between delivery of the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we are happy to answer any questions 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, soon after you complete your loan application. At Abundance Home Mortgage, 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 interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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