All residential real estate sales incurs certain fixed costs. Buyers and sellers almost always share these costs, as the sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting a mortgage. At First Source Capital Mortgage, Inc., we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. This closing cost estimate comes out of our past experience. Please note that while our GFEs are very accurate, we can't always estimate costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.
Below you'll find a generic list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
Costs related to "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Various Taxes
InsuranceRecording Fees & Transfer Taxes
Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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