All residential real estate transactions involves certain costs. Sellers and buyers usually share these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying a home are associated with getting the mortgage loan. Since Metro Mortgage is highly experienced with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.
Below is a generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Fee Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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