Your Closing Costs
Hayes Home Loans can help you understand closing costs. Call us: 918-633-9916.
Certain standard costs are related to closing the sale of a house. Buyers customarily pay these closing costs, as specified in the real estate sales contract, however, depending on the contract the seller may be required to pay some of the closing costs.
"Closing Costs" are the fees that pay for various services involved when you sell or buy residential real estate. These fees can be paid out of pocket or indirectly by increasing the loan amount or charging a higher interest rate.
As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Hayes Home Loans is highly experienced with mortgages and closings, we are closing cost experts.
Getting The Loan Estimate
Buyers will receive a Loan Estimate by three days from when the loan application is submitted to the lender. The Loan Estimate details information like closing costs, taxes, insurance, estimated interest rate monthly payment and more. Getting an estimate doesn't mean you've been approved, rather it's the first step toward securing your loan.
We will be glad to review the estimate, answering questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At Hayes Home Loans, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Searching for a loan? We'd be thrilled to talk about our many mortgage solutions! Call us at 918-633-9916. Ready to begin? Apply Online Now