"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Sellers and buyers almost always negotiate these closing costs.
As you'll see below, many of the costs result from getting your mortgage loan. At Marshall Lending, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers will 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 Marshall Lending's experience with mortgage loans, but costs often vary a little bit between delivery of the LE and closing. We field buyers' questions about these costs every day at Marshall Lending, so please feel free to contact us if you have questions.
Below you'll find a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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