Certain standard costs are related to closing the sale of a house. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.
As you'll see below, many of the closing costs result from getting your mortgage loan. Since RTC Mortgage Corporation is highly experienced with mortgages and closings, we often explain the details of closing costs.
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between the LE and closing. We review Loan Estimates with buyers almost every day, so we are happy to answer the you have about closing costs.
Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Fees Various TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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