"Closing Costs" are the fees that pay for the various services involved in the sale of residential real estate. Buyers and sellers almost always negotiate the payment of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. Since Great Florida Lending, Inc has extensive experience with mortgages & closings, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Great Florida Lending, Inc's experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We review LEs with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a fairly general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report
Transfer Taxes & Recording Fees Insurance
Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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