About Closing Costs
There are certain standard costs related to closing the sale of a house. Buyers and sellers customarily split these closing costs, as specified in the sales contract.
As indicated below, many of the closing costs result from getting your loan. At Mortgage Headquarters of Missouri, Inc, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
The Loan Estimate (LE)
Buyers will 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 change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Mortgage Headquarters of Missouri, Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Taxes
- Loan Origination Fee
- Points — lower your mortgage interest rate (optional)
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
At Mortgage Headquarters of Missouri, Inc, we answer questions about closing costs every day. Give us a call: 5733029990.