Every home sale incurs certain fixed costs. Sellers and buyers usually share these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At The Mortgage Exchange Service LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on The Mortgage Exchange Service LLC's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We field questions about these costs every day at The Mortgage Exchange Service LLC, so please be sure to ask if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan application. At The Mortgage Exchange Service LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining YourCredit Report
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.