Don't Forget Closing Costs

All residential real estate sales incurs costs. Sellers and buyers almost always split these costs, as the sales contract specifies.

As indicated below, many of the buyer's costs cover the costs of getting the mortgage loan. Since F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) has extensive experience with mortgages and closings, we are closing cost experts.

Loan Estimates (LEs)

Very soon after you submit your application, we will provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.

Below is a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)

F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can help you understand closing costs. Call us: 214-300-8756.



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