All residential real estate transactions involves costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the costs result from getting your loan. Since Metro Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on Metro Mortgage's experience with mortgage loans, but costs usually vary by small amounts between delivery of the Loan Estimate (LE) and closing. We answer buyers' questions about these costs every day at Metro Mortgage, so please be sure to ask if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At Metro Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Escrow Fees TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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