Closing Costs for Home Real Estate Transactions

There are certain standard costs associated with closing the sale of a home. Buyers and sellers almost always share these costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of originating the loan. At America's Money Source, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage 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. This cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We field questions about these costs every day at America's Money Source, so please feel free to contact us if you have questions.

We've provided a general list of these costs below, but we'll provide 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 will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Loan Origination Fee
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Obtaining Your Credit Report
• Interest Payment
• Escrow Account
• Various Taxes

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

America's Money Source can answer questions about these closing costs. Give us a call: 4078987559.