About Closing Costs
Certain standard costs are related to closing the sale of a house. Sellers and buyers almost always share these closing costs, as specified in the sales contract.
As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. Since Executive Lending Group, LLC has extensive experience with mortgages & closings, we can help you understand your closing costs.
Loan Estimates (LEs)
Soon after you submit your application, we will give you the "Loan Estimate" of your closing costs. This closing cost estimate is based on our past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Executive Lending Group, LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Loan Origination Fee
- Recording Fees and Transfer Taxes
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Executive Lending Group, LLC can answer questions about these closing costs. Call us: (816) 525-8000.
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