Every home sale involves certain costs. Sellers and buyers usually share these costs, as specified in the real estate sales contract.
As indicated below, many of the costs result from getting your mortgage loan. Since Metro Mortgage is highly experienced with closings and mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on Metro Mortgage's experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We answer buyers' questions about these costs every day at Metro Mortgage, so please be sure to ask if we can help answer your questions.
Below you'll find a generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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