Don't Forget Closing Costs
Every home sale incurs certain fixed costs. Sellers and buyers usually share these closing costs, as specified in the real estate sales contract.
As the list below indicates, many of the costs result from getting your mortgage loan. At Diamond Mortgage, LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
The Loan Estimate (LE)
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We handle questions about closing costs every day at Diamond Mortgage, LLC, so don't hesitate to contact us if you have questions.
Below you'll find a generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
- Points — lower your mortgage interest rate (optional)
- Recording Fees & Transfer Taxes
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Diamond Mortgage, LLC can help you understand closing costs. Call us at 3178427744.