Closing Costs for Residential Real Estate Transactions

Certain standard costs are associated with closing the sale of a home. Sellers and buyers customarily split these costs, as specified in the real estate sales contract.

As you'll see below, many of the closing costs result from getting your mortgage. Since New Millennium Mortgage Co. NMLS: 331173 has extensive experience with closings and mortgages, we can help you understand your closing costs.

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we can't always predict costs to the penny. We answer questions about closing costs every day at New Millennium Mortgage Co. NMLS: 331173, so please feel free to contact us if you have questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete 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
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

At New Millennium Mortgage Co. NMLS: 331173, we answer questions about closing costs every day. Give us a call at (941) 366-5800.

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