"Closing Costs" are the fees that pay for various services involved in the sale of a house. Buyers and sellers negotiate to determine who will pay different portions of these closing costs.
Many of the costs associated with buying residential real estate are associated with getting a mortgage. Since Wize Mortgage LLC has extensive experience with mortgages & closings, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Wize Mortgage LLC's experience with mortgage loans, but costs often vary a little bit between delivery of the LE and closing. We field questions about closing costs every day at Wize Mortgage LLC, so please feel free to ask if we can help answer your questions.
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 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 Appraisal Costs Obtaining Your Credit Report Interest Payment Escrow Fees TaxesLoan-related costs Points — lower your interest rate (optional) Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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