Don't Forget Closing Costs

There are certain standard costs associated with closing the sale of a home. Buyers and sellers usually share these closing costs, as specified in the sales contract.

Many of the closing costs associated with buying a house are associated with getting a loan. At The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (LE)

Soon after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.

Below you'll find a fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

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

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

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

At The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260, we answer questions about closing costs every day. Give us a call at 5613734149.