Your Closing Costs

All residential real estate transactions incurs fixed costs. Buyers and sellers customarily split these costs, as the real estate sales contract specifies.

As indicated below, many of the closing costs result from getting your mortgage loan. At American Mortgage Advisers, Inc, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We go over LEs with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.

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 have completed your 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

Loan-Related Costs

• Appraisal Fee
• Pulling Your Credit Report
• Interest Payment
• Escrow Account
• Taxes
• Costs related to "originating" your loan
• Points — A fee paid to lower your interest rate (optional)

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Earthquake Insurance

American Mortgage Advisers, Inc can answer questions about these closing costs. Call us at 2147390569.