"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Sellers & buyers usually negotiate these costs.
As the list below indicates, many of the costs result from getting your loan. Since First Community Bank of Central Al. is highly experienced with mortgages & closings, we are closing cost experts.
Very soon after you submit your application, we'll give you a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We go over LEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.
Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Escrow Account Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment
Recording Fees and Transfer Taxes Insurance
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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