"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Sellers & buyers negotiate to decide how to share these costs.
As you'll see below, many of the closing costs result from getting your mortgage. Since Americn Hero Mortgage is highly experienced with mortgages and closings, we can help you understand your closing costs.
Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. This closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We review Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
Below you'll find a fairly general list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Interest Payment Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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