"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Sellers & buyers often negotiate these costs.
As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Yamini Patel has extensive experience with closings and mortgages, we are closing cost experts.
Soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Yamini Patel's experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.
Below you'll find a 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
Costs related to "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Taxes
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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