There are certain standard costs related to closing the sale of a home. Sellers and buyers customarily share these closing costs, as specified in the sales contract. As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. At FirstStar Lending Solutions, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (Also know as the LE)
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on FirstStar Lending Solutions experience with mortgage loans. Costs usually change by small amounts between delivery of the Loan Estimate (LE) and Closing Disclosure (CD). We review LEs with buyers every day, so we'd be glad to answer your questions about closing costs. We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At FirstStar Lending Solutions, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan Related Costs (/Closing costs loans)
Loan Origination Fee
Points — These are costs you pay upfront
to lower your interest rate (optional)
Pulling Your Credit Report
Property Taxes (/Tax Closing Costs)
Recording Fees & Transfer Taxes
Homeowners Insurance (/Closing costs Ins)
Flood or Quake Insurance if applicable
The Mortgage Broker - Where Mortgages are only the Beginning