As the list below indicates, many of the closing costs result from getting your mortgage. Since Peerless Residential Mortgage is highly experienced with mortgages & closings, we are closing cost experts.
Buyers will get a Loan Estimate or formally known "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE/GFE are estimated based on Peerless Residential Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the LE/GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at closing.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Peerless Residential Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing CostsLoan-Related Costs
Up-front Interest Payment
Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Pulling YourCredit Report Property Taxes
Recording Fees and Transfer Taxes
Insurance Homeowners Insurance
Private Mortgage Insurance (PMI)
Flood / Quake Insurance if applicable
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