Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As I negotiate the sales contract for you, I will not only work to get the sales price you want, I will also work to limit the number of closing costs for which you will be responsible.

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Standard Closing Costs

Loan-Related Costs

  • Loan Origination Fee
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance

  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

FIRST MORTGAGE CORPORATION

NMLS # 106654
19831 Governors Highway
Flossmoor, IL 60422
(708) 957-2020
Fax (708) 957-6697

257 Springfield Avenue
Joliet, IL 60435
(815) 744-2111
Fax (815) 744-2122

1467 W Joliet Street (US Highway 30)
Dyer, IN 46311
   (219) 865-0505
Fax (219) 864-1481

An Illinois Residential Mortgage Licensee.  Equal Housing Lender

Illinios License # MB.0000302

Indiana State License # 10921

Michigan Residential Mortgage License # FL0014325

IL Dept. of Financial and Professional Regulation
122 South Michigan Avenue, Suite 900
Chicago, IL 60603
312-793-3000
 
 
 

Copyright © 2012 The First Mortgage Corporation
Portions Copyright © 2012 a la mode, inc.
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