What are Closing Costs?
Certain standard costs are associated with closing the sale of a house. Sellers and buyers almost always share these costs, as the sales contract specifies.
Many of the closing costs associated with buying residential real estate are associated with getting the mortgage loan. At C2 Financial Corporation, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
The Good Faith Estimate (Also know as the GFE)
Very shortly after you submit your application, we will give you the "Good Faith Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our GFEs are very precise, we can't always predict your costs to the penny. We field buyers' questions about these costs every day at C2 Financial Corporation, so please be sure to ask if we can help answer your questions.
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 C2 Financial Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Loan-related costs
- Recording Fees and Transfer Taxes
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
C2 Financial Corporation can answer questions about these closing costs. Call us at (727) 478-2797.
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