Your Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers and buyers almost always negotiate these closing costs.

Many of the closing costs associated with buying a house are associated with getting the loan. Since 1st Credential Mortgage Inc has extensive experience with mortgages and closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Soon after you submit your application, we will give you a "Good Faith Estimate" of your costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.

We've provided a general list of these costs below, but we'll provide 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
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

1st Credential Mortgage Inc can help you understand closing costs. Give us a call at (281) 778-0805.

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