All residential real estate sales involves certain fixed costs. Buyers and sellers almost always share these closing costs, as specified in the real estate sales contract.
Many of the costs associated with buying a house are associated with getting a mortgage loan. Since Firelight Mortgage Consultants is highly experienced with closings and mortgages, we can help you understand your closing costs.
Very soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. This closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions 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 complete your application. At Firelight Mortgage Consultants, 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 TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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