Don't Forget Closing Costs
Certain standard costs are associated with closing the sale of a house. Sellers and buyers almost always split these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying a home are associated with getting a mortgage loan. At American Mortgage Advisers, Inc, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
The Loan Estimate (LE)
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 extensive past experience. It's important to note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We field buyers' questions about closing costs every day at American Mortgage Advisers, Inc, so please feel free to ask 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, soon after you have completed your 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
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance if applicable
At American Mortgage Advisers, Inc, we answer questions about closing costs every day. Give us a call: 2147390569.