Daytona Beach area Loan Closing Advice

Quick Links

HOME PAGE
MEET THE TEAM

Resources

IMPORTANT LINKS
LOCAL EVENTS
ABOUT US
LOCAL PARTNERS
TESTIMONIALS
SCHOOL INFO
LOCAL WEATHER
MOVIE TIMES

Home Search

HOMES FOR SALE
FEATURED LISTINGS
NEW LISTING ALERT

Real Estate Tools

HOME VALUES
CALCULATORS
GLOSSARY
HOME FINANCE
TODAY'S RATES

Real Estate Info

HOME BUYING
SELLING A HOME
FREE REPORTS
FREE FORMS

Contact : Ponce De Leon Realty
Phone : 386-492-4908

Loan Closing Advice in Daytona Beach area, FL

Daytona Beach area Homepage: Real Estate Homepage

RELATED ARTICLES

Also..
Buying Articles
Selling Articles
All Real Estate Articles

WHAT MAKES UP CLOSING COST
There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following
Attorney's or escrow fees (Yours and your lender's if applicable)
Property taxes (to cover tax period to date)
Interest (paid from date of closing to 30 days before first monthly payment)
Loan Origination fee (covers lenders administrative cost)
Recording fees
Survey fee
First premium of mortgage Insurance (if applicable)
Title Insurance (yours and lender's)
Loan discount points
First payment to escrow account for future real estate taxes and insurance
Paid receipt for homeowner's insurance policy (and fire and flood insurance if applicable)
Any documentation preparation fees
WHAT CAN I EXPECT TO HAPPEN ON CLOSING DAY
You'll present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller (remainder of down payment, prepaid taxes, etc.) and then the money the seller owes you (unpaid taxes and prepaid rent, if applicable). The seller will provide proofs of any inspection, warranties, etc.
Once you're sure you understand all the documentation, you'll sign the mortgage, agreeing that if you don't make payments the lender is entitled to sell your property and apply the sale price against the amount you owe plus expenses. You'll also sign a mortgage note, promising to repay the loan. The seller will give you the title to the house in the form of a signed deed.
You'll pay the lender's agent all closing costs and, in turn,he or she will provide you with a settlement statement of all the items for which you have paid. The deed and mortgage will then be recorded in the state Registry of Deeds, and you will be a homeowner.
WHAT MAKES UP CLOSING COST
Settlement Statement, HUD-1 Form (itemizes services provided and the fees charged; it is filled out by the closing agent and must be given to you at or before closing)
Truth-in-Lending Statement
Mortgage Note
Mortgage or Deed of Trust
Binding Sales Contract (prepared by the seller; your lawyer should review it)
Keys to your new home

[ ..More About Daytona Beach area Loan Closing Advice ]

QUICK LINKS:
MLS HOME SEARCH	FEATURED LISTINGS	OPEN HOUSES	RECENTLY SOLD
MEET THE TEAM	LIST WITH US	NEW LISTING ALERT	15 SECOND APPRAISAL
HOME BUYING	SELLING A HOME	FREE REPORTS	FORMS
HOME FINANCE	FINANCING TERMS	REAL ESTATE TOOLS	TODAY'S RATES
TESTIMONIALS	LOCAL NEWS	MOVIE TIMES
COMMUNITIES:
GOLF & COUNTRY CLUB	LUXURY	WARNER ROBINS	MACON
KATHLEEN	PERRY	BYRON	EAGLE SPRINGS
MILL POND PLANTATION	MORGAN RANCH	ALL COMMUNITIES