"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Buyers & sellers usually negotiate these closing costs.
Many of the closing costs associated with buying residential real estate are associated with getting a mortgage loan. At Greystone Loans, Inc., we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on Greystone Loans, Inc.'s experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We answer buyers' questions about these costs every day at Greystone Loans, Inc., so please be sure to contact us if we can help answer your questions.
Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Getting YourCredit Report Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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