Certain standard costs are related to closing the sale of a home. Buyers and sellers usually share these costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's closing costs cover the costs of getting the mortgage loan. Since Nationwide Home Loans is highly experienced with closings & mortgages, we often explain the details of closing costs.
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Nationwide Home Loans's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan 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 Getting YourCredit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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