Closing Costs
"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Buyers and sellers often negotiate to determine who will pay different portions of these closing costs.
As you'll see below, many of the buyer's costs cover the costs of getting the mortgage loan. At Mortgage Headquarters of Missouri, Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (LE)
Very soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always estimate your costs to the penny. We answer questions about these costs every day at Mortgage Headquarters of Missouri, Inc, so please feel free to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Mortgage Headquarters of Missouri, Inc, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Costs related to "originating" your loan
- Points — lower your interest rate (optional)
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
At Mortgage Headquarters of Missouri, Inc, we answer questions about closing costs every day. Give us a call at 5733029990.