Don't Forget Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers & sellers usually negotiate to decide how to split these closing costs.

Many of the costs associated with buying a home are associated with getting the mortgage. At 1st Credential Mortgage Inc, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on 1st Credential Mortgage Inc's experience with mortgage loans, but costs often change by small amounts between delivery of the Loan Estimate (LE) and closing. We explain LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

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 loan 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
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)

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

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question
By checking the box, you agree that 1st Credential Mortgage Inc may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.