About Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of a house. Sellers and buyers usually negotiate these costs.

As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. At America's Money Source, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We review LEs with buyers every day, so we are happy to answer any questions you have about closing costs.

Below is a generic list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Various Taxes
• Loan-related costs
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Title Insurance
• Flood or Earthquake Insurance
• Private Mortgage Insurance (PMI)

At America's Money Source, we answer questions about closing costs every day. Call us: 4078987559.