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Closing Costs
There are certain standard costs associated with closing a real estate loan. In a purchase, these fees are split between the buyer and the seller, as spelled out in the sales contract. In a refinance, the closing costs are usually paid with the loan proceeds.
I will walk you through the closing costs on whatever loan you chose, answering any questions you may have.
Good Faith Estimate
You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is just that and may not include all the closing costs.
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Standard Closing Costs
Loan-Related Costs
- Loan Origination Fee
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance
- Homeowners Insurance
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
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