"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Buyers & sellers often negotiate the payment of these closing costs.
Many of the closing costs associated with buying a house are associated with getting a mortgage. At Americn Hero Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.
Below is a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Escrow Fees TaxesCosts related to "originating" your loan Points — A fee paid to lower your interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment
Insurance Transfer Taxes & Recording Fees
Flood or Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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