"Closing Costs" are the fees that cover the various services involved when you sell or buy a house. Buyers & sellers often negotiate the payment of these costs.
As you'll see below, many of the buyer's costs are related to the costs of getting the mortgage loan. At Capacity Lending, LLC, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".
Soon after you submit your application, we will give you a "Good Faith Estimate" of your costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs often change a little bit between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes change slightly at the closing table.
Below is a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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