Don't Forget Closing Costs
"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Buyers and sellers almost always negotiate to decide how to split these costs.
As indicated below, many of the buyer's costs are related to the costs of originating the loan. Since Executive Lending Group, LLC is highly experienced with mortgages & closings, we can help you understand your closing costs.
Loan Estimate (Also known as the LE)
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed 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
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan-related costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
Executive Lending Group, LLC can help you understand closing costs. Call us at (816) 525-8000.
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