http://activerain.com/blogs/dauriahughes en-us http://activerain.com/blogsview/782079/understanding-closing-costs <p><strong>Understanding Closing Costs <img title="Poor" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-left-on.gif" border="0" height="12" alt="" width="6"><img title="Poor" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-right-on.gif" border="0" height="12" alt="" width="5"><img title="Fair" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-left-on.gif" border="0" height="12" alt="" width="6"><img title="Fair" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-right-on.gif" border="0" height="12" alt="" width="5"><img title="Average" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-left-on.gif" border="0" height="12" alt="" width="6"><img title="Average" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-right-on.gif" border="0" height="12" alt="" width="5"><img title="Good" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-left-on.gif" border="0" height="12" alt="" width="6"><img title="Good" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-right-on.gif" border="0" height="12" alt="" width="5"><img title="Excellent" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-left-on.gif" border="0" height="12" alt="" width="6"><img title="Excellent" src="http://www.lorrainedauriahughes.com/Themes/default/images/common/star-right-on.gif" border="0" height="12" alt="" width="5"></strong></p> <p><strong>Closing Costs</strong></p> <p>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.</p> <p><strong>Good Faith Estimate</strong></p> <p><strong>Buyers</strong> will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender.</p> <p><strong>Standard Closing Costs</strong></p> <blockquote><span style="text-decoration: underline;">Loan Related Costs</span></blockquote> <ul> <li>Loan Origination Fee </li> <li>Points (optional) </li> <li>Appraisal Fee </li> <li>Credit Report </li> <li>Interest Payment </li> <li>Escrow Account </li> </ul> <blockquote><span style="text-decoration: underline;">Taxes</span></blockquote> <ul> <li>Property Taxes </li> <li>Transfer Taxes and Recording Fees </li> </ul> <blockquote><span style="text-decoration: underline;">Insurance</span></blockquote> <ul> <li>Homeowners Insurance </li> <li>Flood or Quake Insurance (applicable in certain areas) </li> <li>Private Mortgage Insurance (PMI - not required on all loans)&nbsp; </li> <li>Title Insurance </li> </ul> Lorraine D'Auria-Hughes Sun, 09 Nov 2008 21:24:53 -0800 http://activerain.com/blogsview/782079/understanding-closing-costs