All residential real estate transactions involves costs. Sellers and buyers almost always share these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's costs are related to the costs of originating the loan. At Kelly Mortgage Center, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.
Below you'll find a fairly general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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