"Closing Costs" are the fees which pay for various services involved in the sale of a house. Sellers and buyers usually negotiate these closing costs.
Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. Since Omni Mortgage Corp. has extensive experience with closings and mortgages, we are closing cost experts.
Very shortly after you apply for a loan, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We explain Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Fees TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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