Don't Forget Closing Costs
"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Sellers & buyers negotiate these costs.
As you'll see below, many of the costs result from getting your loan. Since Executive Lending Group, LLC has extensive experience with mortgages and closings, we are closing cost experts.
Loan Estimate (Also known as the LE)
Very shortly after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We field buyers' questions about closing 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 closing costs below, but we'll give 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
Loan-Related Costs
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance if applicable
Executive Lending Group, LLC can help you understand closing costs. Call us at 8165258000.