Every home sale involves certain costs. Buyers and sellers almost always split these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since Southwest Funding #841Company NMLS # 303440 has extensive experience with mortgages & closings, we can help you understand your closing costs.
Very shortly after you submit your application, we'll provide you with the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on Southwest Funding #841Company NMLS # 303440's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling YourCredit Report Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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