Don't Forget Closing Costs
"Closing Costs" are the fees that pay for the various services involved when you sell or buy residential real estate. Sellers & buyers often negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying residential real estate are associated with getting the mortgage. At New Millennium Mortgage Co. NMLS: 331173, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
Below you'll find a general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Up-front Interest Payment
- Escrow Account
- Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling YourCredit Report
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Title Insurance
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
New Millennium Mortgage Co. NMLS: 331173 can answer questions about these closing costs. Call us at (941) 366-5800.