Your Closing Costs
All residential real estate sales incurs costs. Buyers and sellers usually split these closing costs, as specified in the real estate sales contract.
As the list below indicates, many of the costs result from getting your mortgage. Since Executive Lending Group, LLC has extensive experience with closings and mortgages, we often explain the details of closing costs.
Loan Estimates (LEs)
Soon after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Executive Lending Group, LLC's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Loan Origination Fee
- Recording Fees & Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance
At Executive Lending Group, LLC, we answer questions about closing costs every day. Call us: (816) 525-8000 & (81.
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