About Closing Costs
"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Buyers and sellers negotiate the payment of these closing costs.
Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. Since America's Money Source has extensive experience with closings & mortgages, we are closing cost experts.
Good Faith Estimates (GFEs)
Very shortly after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always estimate your costs to the penny. We answer buyers' questions about closing costs every day at America's Money Source, so don't hesitate to ask if you have questions.
Below you'll find a general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Loan-related costs
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
America's Money Source can help you understand closing costs. Call us at (407) 898-7559.
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