About Closing Costs

"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Sellers & buyers negotiate to determine who will pay different portions of these closing costs.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since The Mortgage Exchange Service LLC has extensive experience with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.

Below you'll find a generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

At The Mortgage Exchange Service LLC, we answer questions about closing costs every day. Give us a call at 703.255-5810.

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