Don't Forget Closing Costs
FirstSouth Mortgage can answer questions about these closing costs. Call us: 972-279-3700.
All residential real estate sales involves certain costs. Buyers usually pay these costs, as the real estate sales contract specifies, however, depending on State law the seller may have to split some of the closing costs.
"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. These fees are either paid out of pocket or indirectly by crediting the loan.
As you'll see below, many of the closing costs result from getting your mortgage. Since FirstSouth Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
The Loan Estimate
Buyers will receive a Loan Estimate three days from when the loan application is submitted to the lender. The Loan Estimate lays out information like insurance and taxes, closing costs, monthly payments and more. Getting an estimate doesn't mean you've been approved, but it's the first step toward getting your loan.
We field buyers' questions about these costs every day at FirstSouth Mortgage, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At FirstSouth Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Appraisal Fee
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Transfer Taxes and Recording Fees
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Are you looking for a mortgage? We'd be thrilled to discuss our mortgage offerings! Give us a call at 972-279-3700. Ready to get started? Apply Online Now