"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers & sellers negotiate these closing costs.
Many of the costs associated with buying residential real estate are associated with getting a loan. Since Power Purchase Mortgage is highly experienced with closings & mortgages, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate is based on the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We review LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.
Below is a general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Obtaining YourCredit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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