About Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of a house. Buyers & sellers usually negotiate the payment of these costs.

As indicated below, many of the costs result from getting your loan. Since Michigan United Mortgage, LLC has extensive experience with closings and mortgages, we can help you understand your closing costs.

Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Michigan United Mortgage, LLC's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We explain Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.

Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Pulling YourCredit Report
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

Michigan United Mortgage, LLC can help you understand closing costs. Give us a call at 810-844-2224.