About Closing Costs

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Sellers and buyers often negotiate these closing costs.

As the list below indicates, many of the costs result from getting your mortgage. Since 1st Credential Mortgage Inc is highly experienced with mortgages & closings, we often explain the details of closing costs.

The Loan Estimate (Also known as the LE)

Very soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on 1st Credential Mortgage Inc's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We answer buyers' questions about closing costs every day at 1st Credential Mortgage Inc, so please be sure to contact us if we can help answer your questions.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At 1st Credential Mortgage Inc, 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

• Taxes
• Loan-related costs
• Points — lower your interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Account

Property Taxes

• Recording Fees and Transfer Taxes
• Insurance

Homeowners Insurance

• Flood or Quake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

At 1st Credential Mortgage Inc, we answer questions about closing costs every day. Give us a call: 2817780805.