"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. Sellers and buyers often negotiate to decide how to split these closing costs.
As the list below indicates, many of the costs result from getting your loan. Since Wize Mortgage LLC has extensive experience with mortgages & closings, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.
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 complete your application. At Wize Mortgage LLC, 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 Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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