Don't Forget Closing Costs
"Closing Costs" are the fees which cover various services involved in the sale of a home. Sellers and buyers often negotiate to determine who will pay different portions of these costs.
As indicated below, many of the buyer's costs cover the costs of originating the loan. Since Omni Mortgage Company, Inc. is highly experienced with mortgages and closings, we are closing cost experts.
The Good Faith Estimate (GFE)
Very soon after you apply for a loan, we will give you the "Good Faith Estimate" of your closing costs. We base this cost estimate on our many years of past experience. Please note that while our GFEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at closing.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Omni Mortgage Company, Inc., 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 Account
- Recording Fees & Transfer Taxes
- Title Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Omni Mortgage Company, Inc. can answer questions about these closing costs. Give us a call at 603-893-6616.