"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Buyers and sellers almost always negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the closing costs result from getting your mortgage. At Ruidoso Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We review LEs with buyers 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 provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Ruidoso Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Escrow Fees TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment
Transfer Taxes & Recording Fees Insurance
Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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.