All residential real estate transactions involves fixed costs. Sellers and buyers almost always split these closing costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your loan. At Southwest Funding #841, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Soon after you apply for a loan, we will give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always predict closing costs to the penny. We handle questions about these costs every day at Southwest Funding #841, so please feel free to contact us if we can help answer your questions.
Below is a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Fee Obtaining YourCredit Report
Insurance Transfer Taxes & Recording Fees
Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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