Certain standard costs are related to closing the sale of a home. Buyers and sellers usually split these costs, as specified in the sales contract.
As you'll see below, many of the costs result from getting your loan. At RTC Mortgage Corporation, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We answer buyers' questions about these costs every day at RTC Mortgage Corporation, so don't hesitate to ask if you have questions.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan application. At RTC Mortgage Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Appraisal Costs Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional)
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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