All residential real estate transactions involves certain fixed costs. Sellers and buyers usually share these closing costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting the loan. Since Americn Hero Mortgage is highly experienced with closings & mortgages, we can help you understand your closing costs.
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Americn Hero Mortgage's experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We go over LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Americn Hero Mortgage, 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 Loan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Interest Payment Escrow Fees Taxes Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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