Every home sale incurs costs. Sellers and buyers usually share these costs, as the sales contract specifies.
As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At First Southeast Mortgage Corporation, 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 "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always estimate closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At First Southeast Mortgage Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report
Transfer Taxes & Recording Fees Insurance
Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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