"Closing Costs" are the fees which cover the various services involved in the sale of a house. Buyers and sellers often negotiate to decide how to split these closing costs.
Many of the costs associated with buying a house are associated with getting a loan. At RTC Mortgage Corporation, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Very shortly after you submit your application, we will provide you with a "Good Faith Estimate" of your closing costs. This cost estimate comes out of our past experience. It's important to note that while our GFEs are very accurate, we cannot always estimate closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can change slightly at closing.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At RTC Mortgage Corporation, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Interest Payment Escrow Account Various TaxesCosts associated with "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report
Transfer Taxes & Recording Fees Insurance
Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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