"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Buyers and sellers often negotiate to decide how to split these costs.
As indicated below, many of the closing costs result from getting your loan. At Americn Hero Mortgage, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of the loan officer's past experience. Please note that while our GFEs are very precise, we cannot always estimate your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can vary a little bit at closing.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Americn Hero Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesCosts associated with "originating" your loan
Recording Fees & Transfer Taxes Insurance
Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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