"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers and buyers usually negotiate these costs.
As indicated below, many of the closing costs result from getting your mortgage loan. Since Triumph Mortgage Inc has extensive experience with closings and mortgages, we often explain the details of closing costs.
Soon after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. This cost estimate comes out of our past experience. Please note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We answer questions about closing costs every day at Triumph Mortgage Inc, so don't hesitate to contact us if we can help answer your questions.
Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Getting YourCredit Report Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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