Closing Costs for Residential Real Estate Transactions
"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Buyers and sellers often negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the buyer's costs cover the costs of getting the loan. Since My FL Home Loans, Inc. is highly experienced with mortgages & closings, we often explain the details of closing costs.
Loan Estimates (LEs)
Very soon after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. This closing cost estimate is based on our past experience. Please note that while our LEs are very accurate, we cannot always predict costs to the penny. We answer questions about closing costs every day at My FL Home Loans, Inc., so please feel free to contact us if you have questions.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan 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
- Various Taxes
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
At My FL Home Loans, Inc., we answer questions about closing costs every day. Call us: (727) 743-1620.