Don't Forget Closing Costs
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There are certain standard costs related to closing the sale of a house. Sellers and buyers usually share these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a home are associated with getting a loan. Since LaPorte Group Mortgage, Inc has extensive experience with mortgages & closings, we often explain the details of closing costs.
Good Faith Estimate (GFE)
Very soon after you apply for a loan, we will give you a "Good Faith Estimate" of your costs. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always estimate costs to the penny. We go over GFEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a general list of costs for buying a home. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing CostsLoan-Related Costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)