Your Closing Costs
Certain standard costs are related to closing the sale of a home. Sellers and buyers usually split these closing costs, as the sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting the mortgage loan. At American Mortgage Advisers, Inc, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We field questions about closing costs every day at American Mortgage Advisers, Inc, so please be sure to contact us if you have questions.
We've provided a general list of closing costs below, but we'll provide 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 will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
American Mortgage Advisers, Inc can answer questions about these closing costs. Call us: 2147390569.