Your Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a house. Sellers and buyers almost always negotiate to decide how to share these costs.

As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since Michigan United Mortgage, LLC has extensive experience with mortgages and closings, we often explain the details of closing costs.

Loan Estimates (LEs)

Soon after you apply for a loan, we'll give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Michigan United Mortgage, LLC's experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We field questions about these costs every day at Michigan United Mortgage, LLC, so please be sure to contact us if you have questions.

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 complete your application. At Michigan United Mortgage, LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Michigan United Mortgage, LLC can answer questions about these closing costs. Call us at 810-844-2224.