Every home sale incurs certain fixed costs. Sellers and buyers almost always split these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. At RTC Mortgage Corporation, we have extensive experience in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Soon after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at closing.
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 Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Fee Credit Report Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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