Your Closing Costs
"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers and sellers negotiate the payment of these costs.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since Diamond Mortgage, LLC has extensive experience with mortgages & closings, we often explain the details of closing costs.
The Loan Estimate (Also known as the LE)
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Diamond Mortgage, LLC's experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We handle questions about these costs every day at Diamond Mortgage, LLC, so please be sure to contact us if we can help answer your questions.
Below you'll find a generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
- Taxes
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
- Recording Fees & Transfer Taxes
- Insurance
Homeowners Insurance
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Diamond Mortgage, LLC can help you understand closing costs. Give us a call: 3178427744.