Closing Costs

Certain standard costs are related to closing the sale of a home. Buyers and sellers almost always share these closing costs, as the real estate sales contract specifies.

As indicated below, many of the closing costs result from getting your mortgage. At First Community Bank of Central Al., we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Very shortly after you submit your application, we will give you a "Loan Estimate" of your costs. This cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.

Below you'll find a generic list of costs for buying a home. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

At First Community Bank of Central Al., we answer questions about closing costs every day. Give us a call at (334) 285-8850.

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