Every home sale incurs costs. Buyers and sellers almost always share these costs, as specified in the sales contract.
As indicated below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since Milestone Mortgage Corp is highly experienced with mortgages & closings, we can help you understand your closing costs.
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs often vary a little bit between the GFE and closing. We go over GFEs with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Escrow Fees TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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