Every home sale incurs certain fixed costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying residential real estate are associated with getting the loan. Since Marshall Lending is highly experienced with mortgages and closings, we are closing cost experts.
Soon after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We field buyers' questions about these costs every day at Marshall Lending, so don't hesitate to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your 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 Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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