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"Closing Costs" are the fees which pay for various services involved in the sale of a house. Sellers and buyers usually negotiate to decide how to share these closing costs.
As you'll see below, many of the costs result from getting your loan. Since Secured Horizon Financial Group, Inc has extensive experience with mortgages & closings, we are closing cost experts.
Good Faith Estimates (GFEs)
Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on Secured Horizon Financial Group, Inc's experience with mortgage loans, but costs often change a little bit between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at closing.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Secured Horizon Financial Group, Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Escrow Account
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Interest Payment
- Recording Fees & Transfer Taxes
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Secured Horizon Financial Group, Inc, we answer questions about closing costs every day. Give us a call: (305) 891-6500.