Don't Forget Closing Costs
All residential real estate sales involves certain costs. Sellers and buyers usually share these costs, as specified in the real estate sales contract.
As the list below indicates, many of the costs result from getting your mortgage. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (Also known as the LE)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We answer questions about closing costs every day at Family Mortgage Company of Hawaii, Inc. NMLS #244497, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
Family Mortgage Company of Hawaii, Inc. NMLS #244497 can answer questions about these closing costs. Give us a call: (808) 935-0678.
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