Don't Forget Closing Costs
Certain standard costs are associated with closing the sale of a home. Buyers and sellers usually share these closing costs, as specified in the real estate sales contract.
Many of the costs associated with buying a home are associated with getting the mortgage 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 costs in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Greystone Loans, Inc., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Escrow Fees
- Taxes
- Loan Origination Fee
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Greystone Loans, Inc., we answer questions about closing costs every day. Call us at 9094671090.