"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Buyers and sellers usually negotiate these costs.
Many of the costs associated with buying a home are associated with getting a mortgage loan. At Dayspring Bank, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Dayspring Bank's experience with mortgage loans, but costs often change by small amounts between the LE and closing. We handle questions about closing costs every day at Dayspring Bank, so please be sure to contact us if you have questions.
Below you'll find a generic list of closing costs. 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 Escrow Fees Various TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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