Closing Costs

Every home sale incurs certain fixed costs. Sellers and buyers customarily split these closing costs, as the sales contract specifies.

As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. At MidTowne Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

MidTowne Mortgage can answer questions about these closing costs. Give us a call at (478) 746-2063.

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