Your Closing Costs
"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Buyers & sellers almost always negotiate to determine who will pay different portions of these costs.
As indicated below, many of the buyer's costs are related to the costs of originating the loan. At Sky Apply Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Good Faith Estimate (GFE)
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. It's important to note that while our GFEs are very accurate, we cannot always predict your closing 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 closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your application. At Sky Apply Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Costs related to "originating" your loan
- Recording Fees & Transfer Taxes
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Sky Apply Mortgage, we answer questions about closing costs every day. Give us a call: (813) 200-7931.
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