Every home sale incurs costs. Buyers and sellers usually share these costs, as the sales contract specifies.
Many of the closing costs associated with buying residential real estate are associated with getting the mortgage. At Greystone Loans, Inc., we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always predict costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.
Below is a general list of costs for buying a home. 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 Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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