Don't Forget Closing Costs

"Closing Costs" are the fees which pay for the various services involved when you sell or buy a home. Sellers & buyers negotiate to determine who will pay different portions of these closing costs.

Many of the closing costs associated with buying a home are associated with getting a mortgage. Since 1st Credential Mortgage Inc has extensive experience with closings & mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We go over Loan Estimates with buyers almost every day, so we will be happy to answer the you have about closing costs.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed 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

• Taxes
• Costs associated with "originating" your loan
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Title Insurance
• Flood or Earthquake Insurance
• Private Mortgage Insurance (PMI)

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