Every home sale involves certain costs. Buyers and sellers almost always share these costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a house are associated with getting a loan. At First Community Bank of Central Al., we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Good Faith Estimate are estimated based on First Community Bank of Central Al.'s experience with mortgage loans, but costs often vary by small amounts between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.
Below you'll find a generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Getting YourCredit Report
InsuranceRecording Fees and Transfer Taxes
Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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