Every home sale incurs certain costs. Buyers and sellers customarily share these closing costs, as specified in the real estate sales contract.
Many of the costs associated with buying residential real estate are associated with getting a mortgage. Since Nationwide Home Loans is highly experienced with closings and mortgages, we can help you understand your closing costs.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We field buyers' questions about these costs every day at Nationwide Home Loans, so please feel free to contact us if we can help answer your questions.
Below is a fairly generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Costs related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Fee Getting Your Credit Report Up-front Interest Payment Escrow Fees Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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.