Don't Forget Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of a home. Sellers & buyers almost always negotiate these costs.

As indicated below, many of the closing costs result from getting your loan. At 1st Credential Mortgage Inc, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.

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 have completed 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
  • Costs associated with "originating" your loan
  • 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
  • Taxes
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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

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