Don't Forget Closing Costs
"Closing Costs" are the fees which pay for various services involved in the sale of a home. Sellers and buyers often negotiate to determine who will pay different portions of these costs.
Many of the costs associated with buying residential real estate are associated with getting a mortgage. At Mortgage Headquarters of Missouri, Inc, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you submit your application, we'll give you the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Mortgage Headquarters of Missouri, Inc's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your 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
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Taxes
- Costs associated with "originating" your loan
Property Taxes
- Insurance
- Recording Fees and Transfer Taxes
Homeowners Insurance
- Title Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Mortgage Headquarters of Missouri, Inc can help you understand closing costs. Give us a call at 5733029990.