Every home sale involves certain costs. Sellers and buyers usually split these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's closing costs cover the costs of getting the loan. Since Clear Mortgage Lending, Inc. has extensive experience with closings & mortgages, we often explain the details of closing costs.
Good Faith Estimate (GFE)
Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. This cost estimate is based on the loan officer's past experience. It's important to note that while our GFEs are very precise, we can't always predict your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Clear Mortgage Lending, Inc., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance
Clear Mortgage Lending, Inc. can help you understand closing costs. Call us: 954-605-2450.