Every home sale incurs fixed costs. Buyers and sellers customarily split these costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Southwest Funding #841, we have extensive experience in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on Southwest Funding #841's experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We handle buyers' questions about closing costs every day at Southwest Funding #841, so please be sure to ask if you have questions.
Below is 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
Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee
Transfer Taxes and Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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