Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers & sellers often negotiate these closing costs.

As indicated below, many of the buyer's costs are related to the costs of originating the loan. At 1st Credential Mortgage Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very shortly after you submit your application, we will give you a "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 precise, we can't always estimate your costs to the penny. We handle buyers' questions about closing costs every day at 1st Credential Mortgage Inc, so please feel free to ask if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your application. At 1st Credential Mortgage Inc, 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
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

At 1st Credential Mortgage Inc, we answer questions about closing costs every day. Call us: (281) 778-0805.

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