"Closing Costs" are the fees which cover the various services involved in the sale of a home. Sellers & buyers usually negotiate the payment of these closing costs.
Many of the costs associated with buying a home are associated with getting the mortgage loan. Since Pacificwide Lending has extensive experience with closings & mortgages, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We go over LEs with buyers every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Pacificwide Lending, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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