All residential real estate sales incurs certain fixed costs. Buyers and sellers customarily split these costs, as the sales contract specifies.
Many of the costs associated with buying a home are associated with getting a mortgage. At Wize Mortgage LLC, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Buyers will receive 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 accurate, we can't always predict your costs to the penny. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan 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 Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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