There are certain standard costs related to closing the sale of a house. Sellers and buyers usually split these costs, as the sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting a mortgage. Since Abbey Mortgage has extensive experience with mortgages & closings, we can help you understand your closing costs.
Very shortly after you apply for a loan, we'll give you the "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. Please note that while our GFEs are very accurate, we cannot always predict your costs to the penny. We review GFEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your application. At Abbey Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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