"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Buyers & sellers usually negotiate the payment of these closing costs.
As you'll see below, many of the buyer's closing costs cover the costs of originating the loan. Since Triumph Mortgage Inc is highly experienced with closings and mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on Triumph Mortgage Inc's experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We field questions about closing costs every day at Triumph Mortgage Inc, so please feel free to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Triumph Mortgage Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Pulling YourCredit Report Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Costs Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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