About Closing Costs

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".

The Good Faith Estimate (GFE)

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

Loan-Related Costs
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

First Southeast Mortgage Corporation can answer questions about these closing costs. Call us at 954.920.9799.

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