Your Closing Costs
"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Sellers and buyers usually negotiate to decide how to share these costs.
As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage 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 will provide you with the "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We field questions about these costs every day at New Millennium Mortgage Co. NMLS: 331173, so please be sure to ask if you have questions.
Below is a fairly general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Costs related to "originating" your loan
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Recording Fees & Transfer Taxes
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
New Millennium Mortgage Co. NMLS: 331173 can answer questions about these closing costs. Call us at (941) 366-5800.
Got a Question?
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