Closing Costs

"Closing Costs" are the fees that cover the various services involved in the sale of a home. Sellers and buyers usually negotiate these costs.

Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At First Community Bank of Central Al., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We field questions about closing costs every day at First Community Bank of Central Al., so please be sure to contact us if you have questions.

Below is a generic list of closing costs. We will provide a specific list of your closing costs when we provide your 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
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

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

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