"Closing Costs" are the fees that pay for various services involved in the sale of a home. Sellers and buyers almost always negotiate these costs.
As you'll see below, many of the buyer's costs are related to the costs of getting the mortgage loan. Since Marshall Lending is highly experienced with mortgages and closings, we often explain the details of closing costs.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can change slightly at the closing table.
We've provided a general list of these costs below, but we will provide 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'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Getting YourCredit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Costs Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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