About Closing Costs
All residential real estate transactions involves costs. Buyers and sellers customarily share these costs, as specified in the sales contract.
As indicated below, many of the buyer's costs are related to the costs of getting the mortgage loan. Since C2 Financial Corporation is highly experienced with closings & mortgages, we often explain the details of closing costs.
Good Faith Estimates (GFEs)
Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate comes out of the loan officer's past experience. Please note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We explain GFEs with buyers almost every day, so we will be happy to answer your questions about closing costs.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
- Loan Origination Fee
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Recording Fees & Transfer Taxes
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
C2 Financial Corporation can answer questions about these closing costs. Give us a call: (727) 478-2797.
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