All residential real estate sales incurs costs. Sellers and buyers customarily split these costs, as specified in the sales contract.
Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At Metro Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we'll provide you with the "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We field questions about closing costs every day at Metro Mortgage, so please be sure to ask if you have questions.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan 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 Escrow Account Various TaxesCosts associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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