"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers and buyers almost always negotiate the payment of these closing costs.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Southwest Funding #841Company NMLS # 303440, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Very shortly after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict closing costs to the penny. We review Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below is a generic list of costs for buying residential real estate. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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