About Closing Costs
All residential real estate transactions incurs certain fixed costs. Buyers and sellers almost always share these costs, as the sales contract specifies.
As indicated below, many of the closing costs result from getting your mortgage. Since Mortgage Headquarters of Missouri, Inc is highly experienced with closings and mortgages, we can help you understand your closing costs.
Loan Estimate (Also known as the LE)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on Mortgage Headquarters of Missouri, Inc's experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We handle questions about these costs every day at Mortgage Headquarters of Missouri, Inc, so please be sure to ask if you have questions.
We've provided a general list of these 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 will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Interest Payment
- Escrow Account
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling YourCredit Report
Property Taxes
- Recording Fees & Transfer Taxes
- Insurance
Homeowners Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Mortgage Headquarters of Missouri, Inc, we answer questions about closing costs every day. Give us a call at 5733029990.