Understanding Closing Costs – Diamond Funding Corporation, Milford, MA

Closing Costs

Although some lenders advertise "No Closing Costs", you probably know that is not possible. No Closing Costs just means you don't see the closing costs. For No Closing Costs mortgages the lender charges you a higher interest rate and then the lender pays the closing costs for you. Diamond Funding can do it either way, but we prefer not to hide anything from you and feel you should see the closing costs.

Diamond Funding does not like closing costs any more than you do. However, some closing costs are unavoidable. We do make every effort to keep all closing costs low.

There are certain standard costs associated with obtaining a purchase or refinance mortgage. For purchases, your mortgage closing costs can be paid by the Seller if you negotiate this in your purchase contract.

Your Diamond Team representative will explain all closing costs to you in a straightforward manner and will answer any questions that you may have.

Good Faith Estimate:

All Borrowers will receive a written "Good Faith Estimate" of closing costs at the time the loan application.

Typical Closing Costs

Loan-Related Costs

Loan Origination Fee
Discount Points (optional)
Closing Attorney Fee
Appraisal Fee
Credit Report
Interest Escrow Account

Taxes

Property Taxes Escrow
Transfer Taxes and Recording Fees

Insurance

Homeowners Insurance
Flood or Quake Insurance
Private Mortgage Insurance (PMI)
Title Insurance

Customer Commitment Our service culture is precisely in sync with our customers' needs. It's a mindset that values customized solutions over off-the-shelf thinking. We listen more than we talk, and when we act, it's driven by customer goals. Our customers are some of the most intriguing people. We're proud of our role in their success, and are deeply committed to expanding our customers' growth. At the center of our commitment are our people, some of the kindest we've known. We are innovators, collaborators and exceptional performers, all made evident by the facts: Over 120,000 have partake in our services. We u

Like No Other Lender.

nderstand that when we do more, our customers can do more. With every problem solved, we are delivering on a promise to our customers: your success is our business.