Your Closing Costs
There are certain standard costs associated with closing the sale of a house. Sellers and buyers usually split these costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a house are associated with getting the mortgage. Since America's Money Source has extensive experience with mortgages & closings, 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 costs spelled out in the Loan Estimate are estimated based on America's Money Source's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We explain Loan Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.
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 America's Money Source, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Transfer Taxes and Recording Fees
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At America's Money Source, we answer questions about closing costs every day. Give us a call at (407) 898-7559.
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