Every home sale involves costs. Sellers and buyers customarily split these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs cover the costs of originating the loan. Since 24-7 Mortgage Loans is highly experienced with mortgages and closings, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at the closing table.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At 24-7 Mortgage Loans, 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 Costs associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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