"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.
Many of the costs associated with buying residential real estate are associated with getting the loan. Since RTC Mortgage Corporation is highly experienced with closings & mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This 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 closing costs to the penny. We field questions about closing costs every day at RTC Mortgage Corporation, so please be sure to ask if you have questions.
Below is a fairly generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Obtaining YourCredit Report Up-front Interest Payment Escrow Account Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Costs Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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