Your Closing Costs
"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the closing costs result from getting your loan. Since Valley Savers Mortgage, LLC is highly experienced with closings & mortgages, we are closing cost experts.
Good Faith Estimates (GFEs)
Soon after you submit your application, we'll give you a "Good Faith Estimate" of your costs. The cost estimate is based on our past experience. Please note that while our GFEs are very accurate, we can't always predict costs to the penny. We go over GFEs with buyers every day, so we are happy to answer your questions about closing costs.
Below is a fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
- Various Taxes
- Loan-related costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Pulling Your Credit Report
- Interest Payment
- Escrow Fees
- Recording Fees and Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance if applicable
At Valley Savers Mortgage, LLC, we answer questions about closing costs every day. Give us a call: (602) 332-9544.
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