There are certain standard costs related to closing the sale of a house. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since Donald Stiefer has extensive experience with mortgages & closings, we are closing cost experts.
Soon after you submit your application, we will give you the "Loan Estimate" of your costs. This closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Donald Stiefer, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Costs associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Getting Your Credit Report Up-front Interest Payment Escrow Account Various Taxes
Insurance Transfer Taxes and Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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