"Closing Costs" are the fees that pay for the various services involved in the sale of a home. Buyers and sellers usually negotiate to decide how to split these costs.
As indicated below, many of the costs result from getting your mortgage loan. Since Triumph Mortgage Inc has extensive experience with mortgages and closings, we often explain the details of closing costs.
Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the LE and closing. We answer buyers' questions about closing costs every day at Triumph Mortgage Inc, so please be sure to ask if you have questions.
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 complete your 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 Loan-Related Costs Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — lower your mortgage interest rate (optional) Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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