Loan-Related Closing Costs

Loan Origination Fee
This covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount.

Points (optional)
An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals 1 percent of the mortgage amount. For example: on a $150,000 loan, 1 point would equal $1,500.

Appraisal Fee
The fee for having the house appraised may be incorporated into the closing costs or payment may be required by the lender at the time the loan application is submitted.

Credit Report
The lender uses a credit report to determine the creditworthiness of the loan applicant. This fee is often paid when the loan application is submitted.

Interest Payment
Typically the buyer is required to pay interest on the mortgage loan to cover the time between the closing date and when the first mortgage payment period begins. For example: If closing is on May 15. Your first monthly payment begins to accrue interest on June 1 with your first mortgage payment due July 1. At closing an interest payment covering the accrual period between May 15 and May 31 may be required.

Escrow Account
At closing a payment may be required to fund the escrow account if the lender is paying home insurance, property taxes and/or other expenses out of the escrow account.









 

Paul Aragon

Luxury Estates Director

Servicing the San Fernando Valley , Santa Clarita Valley, Simi Valley,

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Real Estate Information, Listings, MLS, Sales, and Loan Information. Guaranteed home sale, free price home evaluation, information for home sellers, information for home buyers, purchase a home for zero down or no down payment, free MLS home search, fixer upper properties, bank foreclosures, divorce and probate. Specializing in sherman oaks real estate, san fernando real estate, and van nuys real estate. Also serving the communities of: Agoura, Arleta, Bel Air, Calabasas, Canoga Park, Canyon Country, Castaic, Chatsworth, Encino, Glendale, Granada Hills, Hidden Hills, Hollywood, Lake Balboa, Lancaster, Mission Hills Moorpark, North Hills, North Hollywood, Sherman Oaks, Oak Park, Pacoima, Palmdale, Pasadena, Reseda, San Fernando, Saugus, Sherman Oaks, Stevenson Ranch, Sunland, Sylmar, Tarzana, Thousand Oaks, Topanga, Tujunga, Valencia, Valley Glen, Valley Village, West Hills, West Hollywood, Winnetka, Woodland Hills. Information provided as a free community resource by  Paragon Enterprises - Pinnacle Estate Properties, Inc. - P.Aragon. Serving Areas of the San Fernando Valley, Santa Clarita Valley, Simi Valley, Antelope Valley, Los Angeles, and Ventura County



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




























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