Closing Costs

Certain standard costs are associated with closing the sale of a house. Buyers and sellers customarily share these closing costs, as the real estate sales contract specifies.

As the list below indicates, many of the closing costs result from getting your mortgage loan. At 1st Credential Mortgage Inc, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we cannot always predict your costs to the penny. We field buyers' questions about these costs every day at 1st Credential Mortgage Inc, so don't hesitate to contact us if we can help answer your questions.

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

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Obtaining Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Costs associated with "originating" your loan

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Earthquake Insurance if applicable

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