Closing Costs

All residential real estate sales involves certain costs. Buyers and sellers almost always split these closing costs, as the real estate sales contract specifies.

Many of the costs associated with buying residential real estate are associated with getting a mortgage. At America's Money Source, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you submit your application, we will give you a "Good Faith Estimate" of your closing costs. This cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very precise, we cannot always predict closing costs to the penny. We explain Good Faith Estimates with buyers every day, so we are happy to answer the you have about closing costs.

Below you'll find a fairly general list of costs for buying a home. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

America's Money Source can answer questions about these closing costs. Call us at (407) 898-7559.

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