"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Sellers & buyers usually negotiate to decide how to split these costs.
As indicated below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At My FL Home Loans, Inc., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at closing.
Below is a fairly generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees TaxesLoan Origination Fee
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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