"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Sellers & buyers negotiate to decide how to share these closing costs.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since Executive Lending Group, LLC is highly experienced with closings & mortgages, we are closing cost experts.
Loan Estimates (LEs)
Very shortly after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Executive Lending Group, LLC's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We answer buyers' questions about these costs every day at Executive Lending Group, LLC, so please be sure to ask if you have questions.
Below is a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
Executive Lending Group, LLC can help you understand closing costs. Call us: 8165258000.
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