There are certain standard costs related to closing the sale of a house. Sellers and buyers usually share these closing costs, as the real estate sales contract specifies.
As the list below indicates, many of the costs result from getting your loan. Since Triumph Mortgage Inc has extensive experience with closings and mortgages, we can help you understand your closing costs.
Soon after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. The closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always estimate closing costs to the penny. We go over LEs with buyers every day, so we will be happy to answer your questions about closing costs.
Below you'll find a generic list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Getting YourCredit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Fee Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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