Every home sale incurs certain fixed costs. Buyers and sellers almost always split these costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a loan. At Metro Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we'll give you the "Loan Estimate" of your closing costs. This cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We answer buyers' questions about these costs every day at Metro Mortgage, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Metro Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Appraisal Fee Getting Your Credit Report Interest Payment Escrow Fees TaxesCosts associated with "originating" your loan Points — lower your mortgage interest rate (optional) Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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