Certain standard costs are related to closing the sale of a home. Buyers and sellers almost always split these costs, as specified in the real estate sales contract.
As indicated below, many of the costs result from getting your mortgage. Since Omni Mortgage Corp. is highly experienced with closings & mortgages, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we cannot always predict your costs to the penny. We explain LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very 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 Escrow Fees TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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