Don't Forget Closing Costs
There are certain standard costs associated with closing the sale of a home. Sellers and buyers almost always split these costs, as the sales contract specifies.
As indicated below, many of the costs result from getting your loan. Since Savers Home Loans has extensive experience with closings and mortgages, we often explain the details of closing costs.
Loan Estimate (Also known as the LE)
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at closing.
Below is a general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan-related costs
- Transfer Taxes & Recording Fees
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Savers Home Loans can answer questions about these closing costs. Call us: (800) 974-0509.