"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers & sellers usually negotiate the payment of these costs.
As indicated below, many of the costs result from getting your mortgage loan. Since Northeast Bancorp of America, Inc. is highly experienced with mortgages & closings, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at closing.
Below you'll find a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Fee
Insurance Transfer Taxes & Recording Fees
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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