Every home sale incurs costs. Sellers and buyers customarily share these costs, as the sales contract specifies.
As the list below indicates, many of the costs result from getting your mortgage loan. Since Omni Mortgage Company, Inc. has extensive experience with mortgages & closings, we are closing cost experts.
Good Faith Estimate (Also know as the GFE)
Very soon after you apply for a loan, we will give you the "Good Faith Estimate" of your closing costs. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the Good Faith Estimate (GFE) and closing. We field buyers' questions about closing costs every day at Omni Mortgage Company, Inc., so please be sure to ask if we can help answer your questions.
Below you'll find a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
- Getting YourCredit Report
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Recording Fees & Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance if applicable
Omni Mortgage Company, Inc. can answer questions about these closing costs. Give us a call at 603-893-6616.