"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Buyers and sellers usually negotiate the payment of these costs.
Many of the closing costs associated with buying residential real estate are associated with getting the loan. Since Augusta Mortgage Solutions is highly experienced with mortgages and closings, we often explain the details of closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. Please note that while our LEs are very precise, we cannot always predict costs to the penny. We answer buyers' questions about closing costs every day at Augusta Mortgage Solutions, so don't hesitate to contact us if you have questions.
Below is a fairly general list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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