Every home sale incurs certain fixed costs. Sellers and buyers usually share these costs, as specified in the real estate sales contract.
As you'll see below, many of the costs result from getting your mortgage loan. At Omni Mortgage Corp., we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Omni Mortgage Corp., 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 Appraisal Fee Getting Your Credit Report Up-front Interest Payment Escrow Account TaxesCosts related to "originating" your loan Points — lower your mortgage interest rate (optional) Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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