Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers & sellers negotiate to determine who will pay different portions of these costs.

As you'll see below, many of the costs result from getting your mortgage loan. Since The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260 has extensive experience with closings and mortgages, we are closing cost experts.

The Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly 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, soon after you have completed your loan application. At The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Various Taxes
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Getting Your Credit Report
• Up-front Interest Payment
• Escrow Fees

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

• Flood / Quake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260 can help you understand closing costs. Give us a call at 5613734149.