"Closing Costs" are the fees which cover various services involved in the sale of a home. Sellers & buyers usually negotiate these closing costs.
Many of the costs associated with buying a house are associated with getting a loan. At Power Purchase Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Soon after you submit your application, we'll give you the "Loan Estimate" of your closing costs. The closing cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always predict closing costs to the penny. We go over LEs with buyers almost every day, so we are happy to answer the you have about closing costs.
Below you'll find a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee Getting YourCredit Report Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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