"Closing Costs" are the fees which pay for the various services involved in the sale of residential real estate. Sellers & buyers often negotiate these costs.
As indicated below, many of the costs result from getting your mortgage. At Power Purchase Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
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. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We handle buyers' questions about closing costs every day at Power Purchase Mortgage, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of closing 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 Points — lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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