Closing Costs
Every home sale involves costs. Buyers and sellers almost always split these closing costs, as specified in the sales contract.
As you'll see below, many of the costs result from getting your 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 at the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.
Below you'll find a fairly general list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Taxes
- Loan Origination Fee
Property Taxes
- Insurance
- Transfer Taxes & Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance if applicable
New Millennium Mortgage Co. NMLS: 331173 can answer questions about these closing costs. Give us a call at (941) 366-5800.