Don't Forget Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a home. Sellers and buyers often negotiate these closing costs.

Many of the costs associated with buying a house are associated with getting a mortgage loan. At First Community Bank of Central Al., we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your costs. This cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very precise, we can't always estimate your costs to the penny. We answer questions about these costs every day at First Community Bank of Central Al., so please feel free to ask if you have questions.

Below you'll find a general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — lower your interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

At First Community Bank of Central Al., we answer questions about closing costs every day. Call us: (334) 285-8850.

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