All residential real estate transactions involves certain costs. Buyers and sellers usually share these costs, as specified in the sales contract.
As the list below indicates, many of the costs result from getting your mortgage loan. Since RTC Mortgage Corporation has extensive experience with mortgages & closings, we are closing cost experts.
Soon after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on RTC Mortgage Corporation's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your 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 Loan-Related Costs Credit Report Interest Payment Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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