Certain standard costs are associated with closing the sale of a home. Buyers and sellers usually share these closing costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs cover the costs of getting the loan. At Nationwide Home Loans, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between delivery of the LE and closing. We answer questions about these costs every day at Nationwide Home Loans, so don't hesitate to contact us if you have questions.
Below you'll find a generic list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Obtaining YourCredit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee
Recording Fees & Transfer Taxes Insurance
Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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