Don't Forget Closing Costs

All residential real estate sales involves fixed costs. Buyers and sellers almost always split these costs, as the sales contract specifies.

As the list below indicates, many of the closing costs result from getting your loan. At Power Purchase Mortgage, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.

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 loan application. At Power Purchase Mortgage, 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
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Power Purchase Mortgage can help you understand closing costs. Give us a call: (877) 226-8191.

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