About Closing Costs
Every home sale incurs certain fixed costs. Buyers and sellers usually split these costs, as specified in the sales contract.
Many of the closing costs associated with buying a home are associated with getting a mortgage loan. Since The Elite Lending Team at Milestone Mortgage Corporation is highly experienced with closings & mortgages, we can help you understand your closing costs.
Loan Estimates (LEs)
Very soon after you submit your application, we'll give you the "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on The Elite Lending Team at Milestone Mortgage Corporation's experience with mortgage loans, but costs usually change by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At The Elite Lending Team at Milestone Mortgage Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Credit Report
- Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
At The Elite Lending Team at Milestone Mortgage Corporation, we answer questions about closing costs every day. Call us at 561-373-4149.