Every home sale incurs certain fixed costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the closing costs result from getting your loan. Since SelectPlus Lending has extensive experience with mortgages & closings, we are closing cost experts.
Very soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your costs. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the Good Faith Estimate (GFE) and closing. We field questions about these costs every day at SelectPlus Lending, so please be sure to contact us 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, soon after you have completed your loan application. At SelectPlus Lending, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Appraisal Costs Obtaining Your Credit Report Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional)
Transfer Taxes and Recording Fees Insurance
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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