Closing Costs for Residential Real Estate Transactions
All residential real estate sales involves fixed costs. Sellers and buyers usually split these closing costs, as specified in the sales contract.
Many of the costs associated with buying a home are associated with getting a mortgage loan. At Executive Lending Group, LLC, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimate (GFE)
Very shortly after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the Good Faith Estimate are estimated based on Executive Lending Group, LLC's experience with mortgage loans, but costs often change a little bit between the GFE and closing. We answer buyers' questions about these costs every day at Executive Lending Group, LLC, so please be sure to contact us if we can help answer your questions.
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 complete your loan application. At Executive Lending Group, LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
Executive Lending Group, LLC can help you understand closing costs. Call us at (816) 525-8000 & (81.
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