What are Closing Costs?

"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Buyers & sellers often negotiate to decide how to split these costs.

Many of the costs associated with buying a home are associated with getting the mortgage loan. At Diamond Mortgage, LLC, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at the closing table.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Diamond Mortgage, LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Costs
• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Loan-related costs

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

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

Diamond Mortgage, LLC can answer questions about these closing costs. Give us a call at 3178427744.