Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved when you sell or buy a home. Sellers and buyers negotiate the payment of these costs.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655 has extensive experience with closings and mortgages, we can help you understand your closing costs.

Loan Estimate (Also known as the LE)

Very shortly after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We answer questions about these costs every day at Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655, so don't hesitate to contact us if we can help answer your questions.

Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

At Community Trust Lending Team at Norcom Mortgage-NMLS ID#71655, we answer questions about closing costs every day. Call us: (203) 526-9345.

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