Closing Costs
We offer a no closing cost program. Please call or email to ask about this program.
The detailed list of closing costs will be disclosed on the the buyer's Good Faith Estimate. The Good faith estimate can be emailed or faxed.
Fees that are paid once and never again are called non-recurring. These fees are one-time charges for such items as:
- Credit Report
- Appraisal
- Underwriting
- Flood Cert
- Attorney fees
- Title Policies
- Escrow or closing
- Notary
- Courier / Delivery
- Attorney fees
- Endorsements
- Recording
- State, County or City Transfer Taxes
- Home Protection Plans
- Home Inspection
Recurring fees are those charges that you will pay cyclically. They include such fees as:
- Fire Insurance Premium
- Flood Insurance (if required in your area)
- Property Taxes
- Mutual or Private Mortgage Insurance Premiums
- Prepaid Interest
The time of the year that you close will dictate how many prorata months of premiums the lender will collect to hold against future payments of taxes and insurance. Not every loan has an impound or escrow account, but typically loans totaling more than 80% of your purchase price will require an impound / escrow account.
Always check with me before you negotiate an offer that involves a seller credit for closing fees to provide the most accurate information possible.
Catalyst Lending, Inc has the volume necessary to work with the top wholesale mortgage investors in the country. This enables me to provide the most competitive rates while keeping overhead low -- I pass these savings to my clients in the form of reduced closing costs and very low interest rates.