Your Closing Costs

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Certain standard costs are related to closing the sale of a home. Buyers and sellers customarily split these closing costs, as the real estate sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting the loan. Since Bluff City Mortgage, Inc has extensive experience with mortgages & closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Very shortly after you apply for a loan, we will give you the "Good Faith Estimate" of your costs. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the GFE and closing. We go over GFEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Bluff City Mortgage, Inc, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Interest Payment
• Escrow Account
• Various Taxes
• Loan Origination Fee
• Points — lower your interest rate (optional)
• Appraisal Fee
• Pulling YourCredit Report

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

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

Bluff City Mortgage, Inc can answer questions about these closing costs. Call us at (901) 861-8022.