"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers & buyers often negotiate to decide how to share these closing costs.
Many of the costs associated with buying a house are associated with getting the loan. Since Metro Mortgage is highly experienced with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Metro Mortgage's experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at the closing table.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Metro Mortgage, 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 Escrow Fees TaxesCosts associated with "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.