"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Sellers and buyers almost always negotiate to determine who will pay different portions of these closing costs.
As you'll see below, many of the costs result from getting your mortgage. Since Bob Rutledge Mortgage has extensive experience with mortgages and closings, we are closing cost experts.
Soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Bob Rutledge Mortgage's experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We answer questions about closing costs every day at Bob Rutledge Mortgage, so don't hesitate to contact us if we can help answer your questions.
Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Escrow Fees Various TaxesCosts related to "originating" your loan Points — lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Interest Payment
Transfer Taxes & Recording Fees Insurance
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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