"Closing Costs" are the fees that pay for various services involved in the sale of a home. Sellers & buyers negotiate the payment of these costs.
As indicated below, many of the costs result from getting your mortgage loan. At RTC Mortgage Corporation, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers will 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 precise, we cannot always estimate costs to the penny. We review Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
Below is a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Costs Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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