Your Closing Costs

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".

Good Faith Estimates (GFEs)

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

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting YourCredit Report
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

First Community Bank of Central Al. can help you understand closing costs. Give us a call: (334) 285-8850.

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