All residential real estate transactions involves costs. Buyers and sellers customarily share these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's costs are related to the costs of getting the loan. At Mortgage Headquarters of Missouri, Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Mortgage Headquarters of Missouri, Inc's experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We answer questions about closing costs every day at Mortgage Headquarters of Missouri, Inc, so don't hesitate to ask if you have questions.
Below you'll find a generic list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Getting Your Credit Report Interest Payment Escrow Account Various Taxes Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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