"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Sellers & buyers negotiate these costs.
As you'll see below, many of the buyer's 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 list of mortgage-related costs in your "Loan Estimate".
Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We review Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Southwest Funding #841Company NMLS # 303440, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan-related costs Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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