"Closing Costs" are the fees that pay for the various services involved in the sale of a home. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.
Many of the closing costs associated with buying a home are associated with getting a mortgage. At RTC Mortgage Corporation, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At RTC Mortgage Corporation, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — lower your mortgage interest rate (optional) Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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