"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".
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
Appraisal Fee Credit Report Interest Payment Escrow Account TaxesLoan-related costs Points — lower your interest rate (optional)
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.