About Closing Costs

"Closing Costs" are the fees which pay for the various services involved when you sell or buy a home. Buyers & sellers negotiate these closing costs.

As you'll see below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since New Millennium Mortgage Co. NMLS: 331173 is highly experienced with mortgages & closings, we often explain the details of closing costs.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At New Millennium Mortgage Co. NMLS: 331173, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

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

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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