"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers and buyers often negotiate to decide how to share these closing costs.
Many of the closing costs associated with buying a home are associated with getting the mortgage loan. Since MidTowne Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We handle buyers' questions about closing costs every day at MidTowne Mortgage, so please be sure to contact us if we can help answer your questions.
Below is a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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