Closing Costs
"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers and sellers negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the closing costs result from getting your loan. At Sky Apply Mortgage, Inc, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
The Loan Estimate (LE)
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Sky Apply Mortgage, Inc's experience with mortgage loans, but costs often change by small amounts between the LE and closing. We field buyers' questions about these costs every day at Sky Apply Mortgage, Inc, so please be sure to contact us if you have questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your application. At Sky Apply Mortgage, 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
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
Property Taxes
- Insurance
- Transfer Taxes & Recording Fees
Homeowners Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Sky Apply Mortgage, Inc, we answer questions about closing costs every day. Call us: (813) 200-7931.