Don't Forget Closing Costs
All residential real estate sales incurs certain fixed costs. Buyers and sellers customarily share these costs, as specified in the sales contract.
As you'll see below, many of the buyer's costs are related to the costs of originating the loan. At New Millennium Mortgage Co. NMLS: 331173, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Very shortly after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your application. At New Millennium Mortgage Co. NMLS: 331173, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Obtaining YourCredit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Recording Fees & Transfer Taxes
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
At New Millennium Mortgage Co. NMLS: 331173, we answer questions about closing costs every day. Call us at (941) 366-5800.
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