Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers & buyers often negotiate to decide how to split these closing costs.

As indicated below, many of the costs result from getting your mortgage loan. At America's Money Source, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we'll give you 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 often change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

Below is a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Obtaining YourCredit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)

America's Money Source can help you understand closing costs. Give us a call: (407) 898-7559.

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