Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Buyers and sellers often negotiate the payment of these closing costs.

As you'll see below, many of the closing costs result from getting your mortgage loan. Since The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260 is highly experienced with mortgages & closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we can't always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.

Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Credit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Loan Origination Fee

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260 can answer questions about these closing costs. Give us a call at 5613734149.