"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Sellers & buyers often negotiate these costs.
As the list below indicates, many of the costs result from getting your loan. Since Metro Mortgage has extensive experience with mortgages and closings, we can help you understand your closing costs.
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at the closing table.
Below you'll find a fairly generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Costs related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Escrow Fees Various Taxes Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.