Certain standard costs are related to closing the sale of a home. Sellers and buyers usually split these closing costs, as the sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting a loan. Since Greystone Loans, Inc. is highly experienced with closings and mortgages, we can help you understand your closing costs.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We go over LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan 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 Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Interest Payment Escrow Fees Various Taxes
Recording Fees & Transfer Taxes Insurance
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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