"Closing Costs" are the fees that pay for various services involved in the sale of a house. Buyers & sellers often negotiate these costs.
Many of the costs associated with buying a home are associated with getting a mortgage. At Reliance Mortgage Service, Inc, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Very shortly after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always predict your costs to the penny. We review LEs with buyers every day, so we will be happy to answer the you have about closing costs.
Below you'll find a fairly general list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report
InsuranceRecording Fees and Transfer Taxes
Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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