"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers and sellers negotiate the payment of these costs.
As you'll see below, many of the costs result from getting your mortgage. At Nationwide Home Loans, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Very soon after you submit your application, we'll provide you with the "Loan Estimate" of your costs. This closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. We field questions about closing costs every day at Nationwide Home Loans, so please feel free to ask if we can help answer your questions.
Below is a general 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
Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Transfer Taxes & Recording Fees Insurance
Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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