"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Sellers and buyers almost always negotiate to determine who will pay different portions of these costs.
As indicated below, many of the costs result from getting your mortgage. At Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We handle buyers' questions about these costs every day at Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655, so please feel free to contact us if we can help answer your questions.
Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Costs related to "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees Taxes
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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