Don't Forget Closing Costs
Pacific Mortgage Consultants can help you understand closing costs. Give us a call: 530-677-2703.
All residential real estate sales incurs costs. Buyers usually incur these closing costs, as the sales contract specifies, however, depending on the contract the seller will have to cover a portion of the closing costs.
"Closing Costs" are the fees that pay for various services involved in the sale of a house. These fees might be paid out of pocket or indirectly by increasing the loan amount or charging a higher interest rate.
As indicated below, many of the costs result from getting your mortgage. Since Pacific Mortgage Consultants is highly experienced with mortgages & closings, we can help you understand your closing costs.
The Loan Estimate
Buyers will get a Loan Estimate by three days from when the loan application is submitted to the lender. The Loan Estimate details information like insurance and taxes, closing costs, monthly payments and more. This estimate is not an approval, but it's the first step toward obtaining your loan.
We will be glad to review the estimate, answering your questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your application. At Pacific Mortgage Consultants, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Escrow Fees
- Loan-related costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Obtaining Your Credit Report
- Interest Payment
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance if applicable
In the market for a mortgage loan? We will be glad to assist you! Call us at 530-677-2703. Want to get started? Apply Here