About Closing Costs
"Closing Costs" are the fees that pay for various services involved in the sale of a home. Sellers & buyers usually negotiate the payment of these costs.
Many of the closing costs associated with buying a home are associated with getting the loan. At Executive Lending Group, LLC, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We handle questions about these costs every day at Executive Lending Group, LLC, so please feel free to ask if you have questions.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your 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
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Executive Lending Group, LLC can answer questions about these closing costs. Give us a call: 8165258000.
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