"Closing Costs" are the fees that cover various services involved when you sell or buy a home. Sellers & buyers usually negotiate the payment of these closing costs.
Many of the closing costs associated with buying a home are associated with getting a mortgage loan. At MidTowne Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".
Soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At MidTowne Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs
InsuranceRecording Fees & Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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