Closing Costs for Home Real Estate Transactions

There are certain standard costs related to closing the sale of a house. Buyers and sellers usually share these costs, as specified in the sales contract.

As indicated below, many of the buyer's costs cover the costs of getting the loan. Since New Millennium Mortgage Co. NMLS: 331173 has extensive experience with closings and mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We go over Loan Estimates with buyers every day, so we are happy to answer the you have about closing costs.

Below you'll find a fairly general list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)

New Millennium Mortgage Co. NMLS: 331173 can answer questions about these closing costs. Call us at (941) 366-5800.

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