"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers & sellers usually negotiate these closing costs.
Many of the costs associated with buying residential real estate are associated with getting a loan. At Nationwide Home Loans, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always estimate your costs to the penny. We field questions about these costs every day at Nationwide Home Loans, so please feel free to contact us if you have questions.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Nationwide Home Loans, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Appraisal Costs Credit Report Interest Payment Escrow Account TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.