About Closing Costs
All residential real estate transactions involves fixed costs. Sellers and buyers customarily share these closing costs, as specified in the sales contract.
As you'll see below, many of the buyer's costs are related to the costs of getting the loan. Since Mortgage Max Inc is highly experienced with mortgages and closings, we can help you understand your closing costs.
Loan Estimate (LE)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.
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 have completed your loan application. At Mortgage Max Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Interest Payment
- Escrow Account
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
Mortgage Max Inc can help you understand closing costs. Give us a call: 760-547-2080.