"Closing Costs" are the fees that pay for the various services involved when you sell or buy residential real estate. Sellers and buyers negotiate the payment of these costs.
Many of the costs associated with buying a house are associated with getting a loan. At Pacificwide Lending, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We handle questions about closing costs every day at Pacificwide Lending, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your 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 Escrow Fees TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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