All residential real estate sales incurs costs. Buyers and sellers customarily split these costs, as specified in the sales contract.
As indicated below, many of the closing costs result from getting your loan. At Nationwide Home Loans, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Nationwide Home Loans's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We explain Loan Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.
Below you'll find a fairly general list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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