Every home sale involves fixed costs. Sellers and buyers usually split these closing costs, as specified in the sales contract.
As you'll see below, many of the costs result from getting your loan. At Nationwide Home Loans, we have extensive experience in residential 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. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Nationwide Home Loans, 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 Credit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Costs Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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