Don't Forget Closing Costs
"Closing Costs" are the fees that pay for the various services involved in the sale of residential real estate. Buyers & sellers usually negotiate to determine who will pay different portions of these costs.
Many of the costs associated with buying residential real estate are associated with getting the loan. At Coastal Mortgage Corp., we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Loan Estimate (Also known as the LE)
Very soon after you submit your application, we'll give you the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the Loan Estimate (LE) and closing. We handle buyers' questions about these costs every day at Coastal Mortgage Corp., so please feel free to contact us if you have questions.
Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance
At Coastal Mortgage Corp., we answer questions about closing costs every day. Call us: 504-866-5626.
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.