Closing Costs
"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers & buyers usually negotiate the payment of these costs.
Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. At Mortgage Headquarters of Missouri, Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you apply for a loan, we'll give you a "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always predict costs to the penny. We answer questions about closing costs every day at Mortgage Headquarters of Missouri, Inc, so don't hesitate to ask if you have questions.
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 complete your loan application. At Mortgage Headquarters of Missouri, Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Various Taxes
- Costs related to "originating" your loan
- Points — lower your interest rate (optional)
- Appraisal Costs
- Obtaining Your Credit Report
- Up-front Interest Payment
- Escrow Fees
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance if applicable
Mortgage Headquarters of Missouri, Inc can help you understand closing costs. Call us at 5733029990.