Don't Forget Closing Costs
Empower Lending Group can help you understand closing costs. Call us: 310-686-1313.
All residential real estate transactions involves certain costs. Buyers almost always incur these closing costs, as the sales contract specifies, however, depending on the contract the seller may have to split a portion of the closing costs.
"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. These fees might be paid out of pocket or indirectly by crediting the loan.
As indicated below, many of the buyer's costs cover the costs of getting the loan. Since Empower Lending Group has extensive experience with closings and mortgages, we can help you understand your closing costs.
Getting The Loan Estimate
Within three days after you submit your application, we will give you a Loan Estimate. The Loan Estimate details information like closing costs, taxes, insurance, estimated interest rate monthly payment and more. This estimate is not an approval, rather it's the first step toward securing your loan.
We answer questions about these costs every day at Empower Lending Group, so please be sure to contact us if we can help answer your questions.
Below is a general list of closing costs. We will provide a specific list of your closing costs when we deliver your estimate.
Standard Closing Costs
- Costs associated with "originating" your loan
- Points — lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Recording Fees & Transfer Taxes
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
In the market for a new mortgage loan? We'd be thrilled to answer your questions about your mortgage needs! Give us a call today at 310-686-1313. Ready to begin? Apply Now