Don't Forget Closing Costs

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Every home sale involves certain fixed costs. Sellers and buyers almost always split these costs, as the sales contract specifies.

As indicated below, many of the closing costs result from getting your loan. At Main Line National Mtg Inc, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimate (GFE)

Very shortly after you submit your application, we'll provide you with the "Good Faith Estimate" of your costs. This closing cost estimate comes out of the loan officer's past experience. It's important to note that while our GFEs are very precise, we can't always predict your closing costs to the penny. We go over GFEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below you'll find a general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Loan Origination Fee
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Quake Insurance if applicable

Main Line National Mtg Inc can help you understand closing costs. Give us a call at (610) 296-3600.