"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Buyers and sellers often negotiate to determine who will pay different portions of these closing costs.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since Nationwide Home Loans is highly experienced with mortgages & closings, we are closing cost experts.
Very shortly after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on Nationwide Home Loans's experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We handle buyers' questions about these costs every day at Nationwide Home Loans, so don't hesitate to contact us if we can help answer your 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 Nationwide Home Loans, 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 Costs related to "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account Taxes Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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