About Closing Costs

Every home sale incurs costs. Sellers and buyers usually share these closing costs, as the real estate sales contract specifies.

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

Loan Estimates (LEs)

Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your costs. The closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

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

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Interest Payment
• Escrow Account
• Various Taxes
• Costs associated with "originating" your loan

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Title Insurance
• Flood / Earthquake Insurance
• Private Mortgage Insurance (PMI)

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