Every home sale involves costs. Sellers and buyers usually split these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs cover the costs of originating the loan. Since Chris Caggiano - Grand Oaks Funding, LLC is highly experienced with closings & mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We explain LEs with buyers every day, so we will be happy to answer any questions you have about closing costs.
Below you'll find a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Costs Pulling YourCredit Report
InsuranceRecording Fees and Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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