Closing Costs
"Closing Costs" are the fees that cover various services involved in the sale of a house. Sellers and buyers almost always negotiate these closing costs.
As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At New Millennium Mortgage Co. NMLS: 331173, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We explain LEs with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your 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
- Interest Payment
- Escrow Fees
- Taxes
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Appraisal Costs
- Credit Report
Property Taxes
- Insurance
- Transfer Taxes & Recording Fees
Homeowners Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
New Millennium Mortgage Co. NMLS: 331173 can answer questions about these closing costs. Call us: (941) 366-5800.