Expected closing costsThere are certain ordinary fees related to closing the sale of a home. These expenses are often divided between the buyer and seller, as dictated in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Texas to help direct you through the deal.
Costs pertaining to your mortgage to be paid at closing (More information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance fees due at closing (More information)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (based on down payment amount and loantype)
- Title Insurance
Sellers: As we get through the details of your deal, I'll not only work to get the very best sales price, but I'll also push for reduced closing costs. And once we've come to an agreement, I'll give a detailed list of the closing costs so you are informed of exactly what you're paying for.
Buyers: If you're purchasing a house in Houston, you'll be given a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application and a "Closing Disclosure" no fewer than three days prior to closing. These estimates are based on the loan officer's prior experience and are required to be within a suitable range so you're not astonished when you show up at closing time. I'll be happy to go over the estimate with you, answering your questions and highlighting any estimates in question.