Your Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of a home. Sellers and buyers almost always negotiate the payment of these closing costs.

As indicated below, many of the costs result from getting your mortgage loan. At First State Bank, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (LE)

Very soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.

Below you'll find a generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)

First State Bank can answer questions about these closing costs. Call us at 4025970500.

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