All residential real estate sales incurs certain fixed costs. Buyers and sellers almost always share these closing costs, as specified in the sales contract.
As indicated below, many of the costs result from getting your loan. Since Abbey Mortgage is highly experienced with closings & mortgages, we can help you understand your closing costs.
Very shortly after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on Abbey Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Obtaining YourCredit Report
Recording Fees & Transfer Taxes Insurance
Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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