Certain standard costs are associated with closing the sale of a home. Sellers and buyers almost always share these closing costs, as the sales contract specifies.
As you'll see below, many of the buyer's costs cover the costs of originating the loan. At Nationwide Home Loans, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We field questions about these costs every day at Nationwide Home Loans, so please be sure to ask if you have questions.
Below you'll find a generic list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account
Insurance Transfer Taxes & Recording Fees
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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