Mortgage Closing Costs
To finalize your mortgage you must make payments called mortgage closing. This
is above the down payment for the home. Each state has different components of
the closing costs, some of which are determined by state law while others by state
and townships, cities and even communities.
Mortgage closing costs typically consist of :
• Points which are upfront fees expressed as a percentage of the home
loan amount
• Fire and hazard insurance
• Closing agent’s or attorney fees
• Interest paid from date of closing through the end of the month of closing
• Loan origination fees to cover lender administrative costs
• Credit report fees
• Home appraiser fees
• Survey fees
• First mortgage insurance premium
• Title insurance (yours and your lender’s)
In Massachusetts for those taking out a Massachusetts
home mortgage, you are entitled to one free credit report every year.
To guide you through matters pertaining to mortgage closing costs including
brokers fees, contact a GNA home loan specialist
serving Boston and all of eastern Massachusetts MA
and Southern New Hampshire NH.
|
