Every home sale involves certain costs. Buyers and sellers usually share these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. Since Omni Mortgage Corp. has extensive experience with closings & mortgages, we often explain the details of closing costs.
Very soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting 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, soon after you complete your application. At Omni Mortgage Corp., 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 Up-front Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Costs Obtaining YourCredit Report Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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