"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers and sellers negotiate to decide how to split these costs.
As you'll see below, many of the costs result from getting your mortgage. At Wize Mortgage LLC, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Very soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on Wize Mortgage LLC's experience with mortgage loans, but costs often vary by small amounts between delivery of the Loan Estimate (LE) and closing. We review LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Wize Mortgage LLC, 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 Credit Report Up-front Interest Payment Escrow Account TaxesCosts associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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