Your Closing Costs

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Certain standard costs are associated with closing the sale of a home. Buyers and sellers almost always split these closing costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a house are associated with getting a mortgage. At Bancmart Mortgage Network, Inc., we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also know as the LE)

Soon after you submit your application, we'll give you a "Loan Estimate" of your costs. The cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we can't always predict closing costs to the penny. We will be glad to review the "Loan  Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
Bancmart Mortgage Network, Inc. can help you understand closing costs. Call us at (773) 205-2323.

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