Your Closing Costs
All residential real estate transactions involves costs. Sellers and buyers customarily split these costs, as specified in the sales contract.
As indicated below, many of the closing costs result from getting your mortgage loan. Since American Mortgage Advisers, Inc has extensive experience with closings & mortgages, we are closing cost experts.
Loan Estimates (LEs)
Very soon after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always estimate costs to the penny. We field buyers' questions about these costs every day at American Mortgage Advisers, Inc, so please be sure to ask if you have questions.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At American Mortgage Advisers, Inc, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Various Taxes
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Recording Fees and Transfer Taxes
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
American Mortgage Advisers, Inc can help you understand closing costs. Call us: 214-865-7442.
Do you have a question regarding a mortgage program?