Don't Forget Closing Costs

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

As indicated below, many of the costs result from getting your loan. Since First Community Bank of Central Al. is highly experienced with mortgages and closings, we are closing cost experts.

Loan Estimate (Also known as the LE)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.

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

Standard Closing Costs

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

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

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