"Closing Costs" are the fees that pay for various services involved in the sale of a house. Sellers & buyers almost always negotiate these closing costs.
Many of the closing costs associated with buying residential real estate are associated with getting a mortgage. At Abbey Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on our experience with mortgage loans, but costs usually change a little bit between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.
Below you'll find a general list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
Points — lower your mortgage interest rate (optional) Appraisal Costs Pulling Your Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee
Transfer Taxes & Recording Fees Insurance
Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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