Certain standard costs are associated with closing the sale of a home. Buyers and sellers customarily split these closing costs, as specified in the sales contract.
As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since MidTowne Mortgage is highly experienced with mortgages and closings, we are closing cost experts.
Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always predict your costs to the penny. We review GFEs with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we will give 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'll be sure to let you know immediately.
Standard Closing Costs
Appraisal Fee Getting Your Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional)
Recording Fees and Transfer Taxes Insurance
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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