Don't Forget Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of a house. Buyers & sellers negotiate to decide how to share these costs.

As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. Since First Community Bank of Central Al. is highly experienced with mortgages and closings, we are closing cost experts.

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.

Below you'll find a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance
  • 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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