Every home sale incurs fixed costs. Buyers and sellers customarily share these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's costs are related to the costs of originating the loan. At Power Purchase Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. The closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always estimate costs to the penny. We handle buyers' questions about closing costs every day at Power Purchase Mortgage, so please be sure to contact us if you have questions.
Below is a fairly generic list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Fee Credit Report Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.