"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Buyers & sellers usually negotiate to decide how to share these closing costs.
Many of the costs associated with buying a house are associated with getting a mortgage. Since Metro Mortgage is highly experienced with mortgages & closings, we are closing cost experts.
Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. This closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we can't always predict closing costs to the penny. We handle questions about these costs every day at Metro Mortgage, so please feel free to ask if you have questions.
We've provided a general list of closing costs below, but we'll provide 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'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Getting YourCredit Report Up-front Interest Payment Escrow Account Various TaxesCosts associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Costs Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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