Don't Forget Closing Costs

Every home sale involves fixed costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.

As the list below indicates, many of the costs result from getting your loan. Since Power Purchase Mortgage has extensive experience with closings & mortgages, we often explain the details of closing costs.

Loan Estimates (LEs)

Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on Power Purchase Mortgage's experience with mortgage loans, but costs usually change a little bit between the LE and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.

Below is a general list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Power Purchase Mortgage can answer questions about these closing costs. Call us at (877) 226-8191.

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