Your Closing Costs
Shopping for a mortgage? We'd be thrilled to discuss your mortgage needs! Give us a call today at (504) 888-3858. Want to get started? Apply Here
"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Sellers and buyers often negotiate the payment of these closing costs.
As the list below indicates, many of the costs result from getting your mortgage loan. Since Essential Mortgage has extensive experience with closings and mortgages, we are closing cost experts.
Loan Estimates (LEs)
Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at closing.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your application. At Essential Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Appraisal Fee
- Obtaining Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
At Essential Mortgage, we answer questions about closing costs every day. Call us at (504) 888-3858.