There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the costs result from getting your mortgage loan. At First Southeast Mortgage Corporation, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".
Soon after you apply for a loan, we will give you a "Good Faith Estimate" of your costs. This cost estimate is based on the loan officer's 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 answer questions about closing costs every day at First Southeast Mortgage Corporation, so please be sure to contact us if you have questions.
Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Fees
Transfer Taxes and Recording Fees Insurance
Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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