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 costs.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At America's Money Source, we have extensive experience 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)

Very soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We review LEs 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 provide you a specific list of closing costs, with amounts, soon after you have completed your 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

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

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

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.