About Closing Costs
Certain standard costs are associated with closing the sale of a house. Buyers and sellers almost always split these costs, as the sales contract specifies.
Many of the costs associated with buying a house are associated with getting a loan. Since New Millennium Mortgage Co. NMLS: 331173 is highly experienced with mortgages and closings, we are closing cost experts.
Loan Estimates (LEs)
Soon after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on New Millennium Mortgage Co. NMLS: 331173's experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can vary a little bit at closing.
Below you'll find a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Various Taxes
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Obtaining Your Credit Report
- Interest Payment
- Escrow Fees
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
New Millennium Mortgage Co. NMLS: 331173 can help you understand closing costs. Give us a call: (941) 366-5800.
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