"Closing Costs" are the fees that pay for various services involved in the sale of a home. Sellers & buyers usually negotiate to decide how to split these closing costs.
Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. Since Acceptance Home Loans is highly experienced with mortgages & closings, we are closing cost experts.
Very shortly after you submit your application, we will give you a "Loan Estimate" of your closing costs. This cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always estimate your costs to the penny. We go over Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a generic list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Fees Various TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Up-front Interest Payment Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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