All residential real estate transactions incurs costs. Buyers and sellers usually split these costs, as the sales contract specifies.
As the list below indicates, many of the costs result from getting your mortgage. Since Triumph Mortgage Inc has extensive experience with closings and mortgages, we often explain the details of closing costs.
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your closing costs. The closing cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always predict 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 closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Triumph Mortgage Inc, 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 Up-front Interest Payment Escrow Fees TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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