About Closing Costs
Certain standard costs are related to closing the sale of a house. Buyers and sellers almost always share these closing costs, as the real estate sales contract specifies.
As the list below indicates, many of the closing costs result from getting your mortgage. At Prime Capital Mortgage Corp, we are highly experienced in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Soon after you submit your application, we will provide you with the "Good Faith Estimate" of your closing costs. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Prime Capital Mortgage Corp, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Obtaining Your Credit Report
- Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
- Recording Fees and Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance
At Prime Capital Mortgage Corp, we answer questions about closing costs every day. Give us a call: 248-644-1200.
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