Don't Forget Closing Costs

There are certain standard costs related to closing the sale of a house. Buyers and sellers usually share these closing costs, as the real estate sales contract specifies.

As the list below indicates, many of the closing costs result from getting your loan. Since America's Money Source has extensive experience with closings and mortgages, we can help you understand your closing costs.

The 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 spelled out in the Loan Estimate are estimated based on America's Money Source's experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We answer buyers' questions about closing costs every day at America's Money Source, so please be sure to contact us if you have questions.

Below is a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Various Taxes
• Costs associated with "originating" your loan
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Getting Your Credit Report
• Up-front Interest Payment
• Escrow Fees

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Flood / Quake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

America's Money Source can help you understand closing costs. Give us a call at 4078987559.