All residential real estate transactions involves costs. Buyers and sellers usually share these closing costs, as the sales contract specifies.
As indicated below, many of the closing costs result from getting your mortgage. At Financial Edge Mortgage Corp., we have extensive experience in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Loan Estimate (Also known as the LE)
Very shortly after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Financial Edge Mortgage Corp.'s experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We field buyers' questions about closing costs every day at Financial Edge Mortgage Corp., so please feel free to ask if you have questions.
Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Loan Origination Fee
- Recording Fees and Transfer Taxes
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Financial Edge Mortgage Corp. can help you understand closing costs. Call us at 425-508-9988.
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