Certain standard costs are associated with closing the sale of a house or refinancing an existing loan. These fees are generally split between the buyer and the seller, as spelled out in the sales contract.
If you are purchasing a home, as you negotiate the sales contract you will not only want to get the sales price you want, you will also want to limit the closing costs for which you will be responsible.
Stop by Troy Bank & Trust and visit with one of our mortgage professionals to discuss your closing cost. We will be glad to walk you through the closing process and explain each closing item.
Good Faith Estimate
You will receive a "Good Faith Estimate" of closing costs at the time you make application for financing. The estimate will be based on your mortgage specialist's past experience. It will be our best estimate at the time and may not include all the closing costs. We will be glad to review the "Good Faith Estimate" with you and answer any questions you may have.
If you have a "Good Faith Estimate" from another lender or a mortgage broker, we will be glad to review the estimate for any missing items or "low" estimates. We will also give you a "Good Faith Estimate" from our bank for you to compare.
Rates vary daily and are subject to change without notice.
All loans are subject to credit approval, verification, and collateral evaluation. Initial decision is subject to you meeting specific underwriting requirements and final approval will be based upon you satisfying those requirements. Loans originated by Troy Bank and Trust Company.
This information is provided for illustrative purposes only and does not constitute an application. This notice does not guarantee loan approval, nor is it an offer or commitment to make a loan to you on the above terms. The APR, fees, and closing costs are all estimates based on Troy Bank and Trust Companys normal and customary fees and typical tax and insurance costs in the stated property's vicinity.
Troy Bank & Trust Company, Inc (NMLS 409724) 1000 Hwy 231 S P. O. Box 967 Troy, AL 36081-3105
Certain standard costs are associated with closing the sale of a house or refinancing an existing loan. These fees are generally split between the buyer and the seller, as spelled out in the sales contract.
