All residential real estate sales incurs certain fixed costs. Sellers and buyers customarily split these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a home are associated with getting a mortgage. Since My FL Home Loans, Inc. has extensive experience with mortgages & closings, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate is based on the loan officer's past experience. Please note that while our LEs are very precise, we can't always estimate closing costs to the penny. We explain LEs with buyers almost every day, so we will be happy to answer the you have about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At My FL Home Loans, Inc., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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