How do Closing Costs Work?

Certain standard costs are related to closing the sale of a home. Buyers and sellers customarily share these closing costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a home are associated with getting the mortgage. Since My FL Home Loans, Inc. has extensive experience with mortgages and closings, we are closing cost experts.

Loan Estimate (Also known as the LE)

Very soon after you submit your application, we will provide you with the "Loan Estimate" of your costs. This cost estimate is based on our past experience. Please note that while our LEs are very accurate, we can't always predict your costs to the penny. We review Loan Estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.

Below you'll find 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

Loan-Related Costs
  • Obtaining YourCredit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

My FL Home Loans, Inc. can help you understand closing costs. Give us a call at (727) 743-1620.

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