"Closing Costs" are the fees which cover the various services involved in the sale of a home. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the costs result from getting your loan. At Triumph Mortgage Inc, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan 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
Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional)
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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