Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers & sellers usually negotiate to decide how to share these costs.

As indicated below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since American Mortgage Advisers, Inc has extensive experience with closings & mortgages, we are closing cost experts.

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete 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
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

American Mortgage Advisers, Inc can answer questions about these closing costs. Call us at 214-865-7442.

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