About Closing Costs

Every home sale involves costs. Sellers and buyers usually share these costs, as specified in the sales contract.

Many of the closing costs associated with buying a home are associated with getting the mortgage. At 1st Credential Mortgage Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs 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 specified in the Loan Estimate are estimated based on 1st Credential Mortgage Inc's experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We go over Loan Estimates with buyers every day, so we'd be glad 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 will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Up-front Interest Payment
• Escrow Fees
• Taxes
• Loan Origination Fee
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Obtaining YourCredit Report

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Title Insurance
• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)

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