Don't Forget Closing Costs
"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Buyers & sellers almost always negotiate to decide how to share these closing costs.
Many of the costs associated with buying a home are associated with getting the loan. At Affinity Mortgage Brokers, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (LE)
Soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. This cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we can't always predict closing costs to the penny. We handle questions about these costs every day at Affinity Mortgage Brokers, so please feel free to contact us if you have questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Affinity Mortgage Brokers, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Getting YourCredit Report
- Recording Fees & Transfer Taxes
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Affinity Mortgage Brokers can help you understand closing costs. Give us a call: 719-425-2226.