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Congratulations! It is time to close your loan...
We can close your loan in house. The attorney comes to our office if you are within driving distance and professionally represents your loan closing. Closing Costs
Your mortgage company will provide you with a Good Faith Estimate of Closing Costs. Closing costs can include:
- Your first mortgage payment
- Your mortgage application fee
- The loan origination fee
- The mortgage loan processing fee
- Private mortgage insurance if your down payment is less than 20% of the mortgage
- The homeowner’s insurance premium for the first year
- Escrow account reserves for insurance or property taxes
- Property tax payments
- Survey fees
- Legal fees
- Appraisal fee
- Title search fee
- Title insurance premium
- Title company fee
- Deed recording fee
- Credit report fee
- Transfer taxes
Closing The Deal
The final step to buying a home is the closing. The closing is the process in which all the parties come together to complete the sale. These parties usually include:
- You, the home buyer
- The seller of the home
- The closing agent or the title clerk
- The mortgage lender
- The real estate professionals
- The real estate attorneys for the buyers and sellers, if retained.
At settlement, you will need to sign your mortgage package and other closing related documents. After settlement you will be given a HUD-1 Settlement Statement, which lists the final closing costs. This statement also provides the sales price, down payment and total settlement costs required from both buyer and seller.
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