Closing Costs for Residential Real Estate Transactions
Every home sale involves fixed costs. Buyers and sellers customarily share these costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a loan. At Executive Lending Group, LLC, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Very soon after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. The cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We field buyers' questions about these costs every day at Executive Lending Group, LLC, so please be sure to ask if you have questions.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Costs associated with "originating" your loan
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Executive Lending Group, LLC can answer questions about these closing costs. Call us at 8165258000.