Don't Forget Closing Costs

"Closing Costs" are the fees which pay for various services involved in the sale of a home. Buyers and sellers almost always negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since 1st Credential Mortgage Inc has extensive experience with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

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 extensive past experience. Please note that while our LEs are very precise, we cannot always predict costs to the penny. We explain LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.

Below you'll find a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

1st Credential Mortgage Inc can answer questions about these closing costs. Call us: (281) 778-0805.

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