"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers and sellers almost always negotiate these costs.
Many of the closing costs associated with buying a house are associated with getting the loan. Since Nationwide Home Loans is highly experienced with closings and mortgages, we often explain the details of closing costs.
Very shortly after you apply for a loan, we'll provide you with 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 a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at closing.
Below you'll find a general 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
Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Costs
InsuranceRecording Fees and Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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