What are Closing Costs?

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers & sellers almost always negotiate these closing costs.

As you'll see below, many of the closing costs result from getting your mortgage. Since 1st Credential Mortgage Inc is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

Very shortly after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. 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 LE and closing. We answer buyers' questions about closing costs every day at 1st Credential Mortgage Inc, so don't hesitate to contact us 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 loan application. At 1st Credential Mortgage Inc, 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

• Escrow Fees
• Various Taxes
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

• Title Insurance
• Flood or Earthquake 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.