"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Sellers & buyers almost always negotiate the payment of these costs.
As the list below indicates, many of the closing costs result from getting your mortgage loan. Since Marshall Lending is highly experienced with closings and mortgages, we can help you understand your closing costs.
Very soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We field questions about closing costs every day at Marshall Lending, so please be sure to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Marshall Lending, 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 Costs Credit Report Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your interest rate (optional) Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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