"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Buyers and sellers usually negotiate the payment of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since Signature Mortgage of Indiana is highly experienced with mortgages and closings, we are closing cost experts.
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We handle buyers' questions about closing costs every day at Signature Mortgage of Indiana, so don't hesitate to contact us if you have questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Signature Mortgage of Indiana, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account Various Taxes
InsuranceRecording Fees and Transfer Taxes
Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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