Closing Costs for Home Real Estate Transactions

All residential real estate transactions involves certain fixed costs. Buyers and sellers customarily share these costs, as the real estate sales contract specifies.

As you'll see below, many of the costs result from getting your mortgage. At The Elite Lending Team at Milestone Mortgage Corporation
NMLS# 133260, we are highly experienced in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. Please note that while our LEs are very precise, we can't always estimate closing costs to the penny. We explain LEs with buyers every day, so we'd be glad to answer your questions about closing costs.

Below you'll find a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Interest Payment
• Escrow Fees
• Various Taxes
• Costs related to "originating" your loan
• Points — lower your interest rate (optional)
• Appraisal Costs
• Credit Report

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Title Insurance
• Flood or Quake 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 at 5613734149.