All residential real estate sales involves certain fixed costs. Sellers and buyers customarily share these closing costs, as the real estate sales contract specifies.
As indicated below, many of the costs result from getting your mortgage. At 1st Security Home Mortgage Corp, we are highly experienced in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we can't always estimate your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At 1st Security Home Mortgage Corp, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees
Transfer Taxes and Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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