About Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of a house. Sellers & buyers almost always negotiate to decide how to share these closing costs.

As indicated below, many of the buyer's costs cover the costs of originating the loan. Since Diamond Mortgage, LLC is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate is based on the loan officer's past experience. It's important to 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 your questions and pointing out costs that sometimes change slightly at the closing table.

Below is a fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Getting YourCredit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Costs associated with "originating" your loan
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

• Title Insurance
• Flood / Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)

At Diamond Mortgage, LLC, we answer questions about closing costs every day. Call us at 3178427744.