"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Buyers & sellers almost always negotiate to decide how to share these closing costs.
As you'll see below, many of the costs result from getting your mortgage loan. Since First Southeast Mortgage Corporation is highly experienced with mortgages & closings, we can help you understand your closing costs.
Very soon after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. This closing cost estimate comes out of our past experience. Please note that while our LEs are very precise, we cannot always predict your costs to the penny. We handle buyers' questions about these costs every day at First Southeast Mortgage Corporation, so don't hesitate to contact us if you have questions.
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 First Southeast Mortgage Corporation, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account
Transfer Taxes & Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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