Closing Costs
"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Sellers and buyers negotiate these closing costs.
As the list below indicates, many of the costs result from getting your loan. At Greystone Loans, Inc., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of 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 enumerated in the LE are estimated based on Greystone Loans, Inc.'s experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We handle questions about these costs every day at Greystone Loans, Inc., so please be sure to contact us if you have questions.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At Greystone Loans, 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
- Escrow Fees
- Taxes
- Loan-related costs
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
Property Taxes
- Recording Fees and Transfer Taxes
- Insurance
Homeowners Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Greystone Loans, Inc. can help you understand closing costs. Give us a call: 9094671090.