Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As I negotiate the sales contract for you, I will not only work to get the sales price you want, I will also work to limit the number of closing costs for which you will be responsible.

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Standard Closing Costs

Loan-Related Costs

  • Loan Origination Fee
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance

  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

 


Traditional Mortgage Banc, Inc P.O. Box 21291 Columbus, OH 43221
Phone: Toll Free Phone: Fax:

Staff Profiles | Contact Us | Your FICO score | Closing Costs | Download Adobe Acrobat | Tell a Friend | News | Home | Loan App Checklist | Mortgage Saving Tips | Your Down Payment | Documenting Assets | Site Map | Loan Application | The Loan Process | Get Your Loan Faster! | Fixed Vs. Adjustable | Improve Your Credit Score | Getting Qualified | When to Refinance | Loan Application Info | Refinancing Options | Mortgage Calculators | Customer Login | What is PMI? | Eliminating PMI | Disputing Credit Reports | Mistakes on Your Report | Bankruptcy | How Much You Can Afford | HUD-1 Settlement Statement | Debt-to-Income Ratios | Home Equity Lines of Credit | Are You Pre-Approved? | Second Mortgages | Home Equity Loans | 100% Financing | Mortgage Tuneup | My Blog

Copyright © 2008 Traditional Mortgage Banc, Inc
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map