What are Closing Costs?
There are certain standard costs related to closing the sale of a house. Sellers and buyers almost always share these closing costs, as specified in the sales contract.
As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since Curtis Mortgage LLC has extensive experience with closings and mortgages, we are closing cost experts.
Loan Estimate (LE)
Very soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we are happy to answer any questions you have about closing costs.
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 Curtis Mortgage LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your mortgage interest rate (optional)
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
At Curtis Mortgage LLC, we answer questions about closing costs every day. Give us a call at 610-565-3600.