Closing Costs

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Sellers and buyers negotiate to determine who will pay different portions of these costs.

As indicated below, many of the closing costs result from getting your loan. Since Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655 has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Soon after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655's experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We answer buyers' questions about these costs every day at Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655, so please feel free to ask if we can help answer your questions.

Below is a generic list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting YourCredit Report
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655 can answer questions about these closing costs. Call us: (203) 526-9345.

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