Your Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a house. Sellers & buyers usually negotiate the payment of these closing costs.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since America's Money Source is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

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 our experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we are happy to answer any questions you have about closing costs.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At America's Money Source, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Loan Origination Fee
• Points — A fee paid to lower your interest rate (optional)

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

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

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