"Closing Costs" are the fees which cover various services involved when you sell or buy residential real estate. Buyers & sellers negotiate these closing costs.
As indicated below, many of the closing costs result from getting your mortgage loan. At MidTowne Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Good Faith Estimate".
Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our GFEs are very precise, we cannot always predict your costs to the penny. We field questions about these costs every day at MidTowne Mortgage, so please be sure to contact us if you have questions.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At MidTowne Mortgage, 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 Loan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees Taxes Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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