Every home sale incurs certain costs. Buyers and sellers usually share these costs, as the sales contract specifies.
As indicated below, many of the buyer's costs are related to the costs of getting the mortgage loan. At Pacificwide Lending, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Pacificwide Lending, 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 Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Obtaining YourCredit Report Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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