What are Closing Costs?

Every home sale involves fixed costs. Sellers and buyers almost always share these closing costs, as specified in the real estate sales contract.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At Carter Financial Solutions, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimate (LE)

Very soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on Carter Financial Solutions's experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We handle questions about closing costs every day at Carter Financial Solutions, so please feel free to contact us if you have questions.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Carter Financial Solutions, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Carter Financial Solutions can help you understand closing costs. Call us at 866-840-8745 x2.

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