Closing Costs for Home Real Estate Transactions
All residential real estate transactions incurs certain fixed costs. Buyers and sellers usually share these costs, as the sales contract specifies.
Many of the costs associated with buying a house are associated with getting the loan. Since Executive Lending Group, LLC has extensive experience with mortgages & closings, we often explain the details of closing costs.
Loan Estimates (LEs)
Very soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We handle questions about these costs every day at Executive Lending Group, LLC, so please feel free to ask if we can help answer your questions.
Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Loan-related costs
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Executive Lending Group, LLC can help you understand closing costs. Give us a call: 8165258000.
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