Every home sale incurs costs. Sellers and buyers customarily share these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a loan. Since Reliance Mortgage Service, Inc has extensive experience with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. 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 will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.
Below is a fairly generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs
InsuranceRecording Fees & Transfer Taxes
Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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