Don't Forget Closing Costs
There are certain standard costs related to closing the sale of a house. Buyers and sellers usually split these closing costs, as specified in the sales contract.
As you'll see below, many of the costs result from getting your mortgage loan. Since Diamond Mortgage, LLC has extensive experience with mortgages & closings, we are closing cost experts.
Loan Estimates (LEs)
Very shortly after you submit your application, we'll give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.
Below is a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing CostsLoan-Related Costs
- Various Taxes
- Costs related to "originating" your loan
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Interest Payment
- Escrow Fees
- Recording Fees & Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance