Certain standard costs are related to closing the sale of a home. Buyers and sellers customarily split these costs, as specified in the sales contract.
As indicated below, many of the costs result from getting your mortgage. Since RTC Mortgage Corporation is highly experienced with closings & mortgages, we often explain the details of closing costs.
Soon after you submit your application, we will provide you with a "Loan Estimate" of your costs. The cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.
Below you'll find a general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Obtaining YourCredit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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