About Closing Costs
"Closing Costs" are the fees which cover the various services involved in the sale of a house. Sellers & buyers often negotiate these closing costs.
As the list below indicates, many of the closing costs result from getting your loan. At America's Money Source, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. This cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We field questions about closing costs every day at America's Money Source, so don't hesitate to contact us if you have questions.
Below is a generic list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Costs associated with "originating" your loan
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Taxes
Property Taxes
- Recording Fees & Transfer Taxes
- Insurance
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance if applicable
America's Money Source can answer questions about these closing costs. Give us a call at 4078987559.