Citizen's Choice Mortgage, Inc

727-776-3327

Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is a cost break down of the loan. Citizen's Choice Mortgage professional loan officer will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Private Mortgage Insurance is hard to calculate since the final premium comes from lender. The lender chooses the PMI company. An estimated figure will be used for any loan amounts exceeding 80% of the appraised value or sales price, whichever is less. As the loan comes together, the underwriter will calculate the PMI and disclose. Once the PMI is disclosed, you will be issued an updated good faith estimate.