Don't Forget Closing Costs

Certain standard costs are related to closing the sale of a home. Buyers and sellers customarily split these costs, as the sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At America's Money Source, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We handle questions about closing costs every day at America's Money Source, so don't hesitate to contact us if we can help answer your questions.

Below is a fairly general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

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

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 at 4078987559.