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Home Mortgage Closing Costs
Closing Costs
When the sale of a house closes, there are certain fees which are considered as Standard closing costs that have to be paid out. The sales contract will specify how these fees are to be split between the buyer and the seller.
When your Providers Financial Mortgage counselor negotiates the sales contract for you, your councilor not only works to get the sales price you want, but, also to insure that you will be responsible for the minimum amount of closing costs.
Your Providers Financial Mortgage counselor will spend one-on-one time with you to go over the closing costs with you. They will explain which costs are decreed by law to be yours and which are negotiable. You will have your questions answered.
Good Faith Estimate
When the loan application is submitted to the lender, the home buyer will receive a "Good Faith Estimate" of the closing costs A "Good Faith Estimate" is prepared by the loan officer and is only an estimate of the projected closing costs. Your Providers Financial Mortgage councilor will of course review the "Good Faith Estimate" with you and answer any questions.