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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.
Good Faith Estimate
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender.
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Standard Closing Costs
Loan-Related Costs
- Loan Origination Fee (if applicable)
- Points (optional)
- Underwriting Fee
- Tax Service Fee
- Document Preparation Fee
- Flood Certification Fee
- Appraisal Fee
- Credit Report
Taxes
- Property Taxes
- Recording Fees
Insurance
- Homeowners Insurance
- Flood Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
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