About Closing Costs
Certain standard costs are associated with closing the sale of a home. Sellers and buyers usually share these costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your mortgage loan. At 24/7 Mortgage , we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Loan Estimate (Also known as the LE)
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we cannot always predict costs to the penny. We explain Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At 24/7 Mortgage , 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
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Interest Payment
- Escrow Account
- Transfer Taxes and Recording Fees
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At 24/7 Mortgage , we answer questions about closing costs every day. Call us: 8324072668.