All residential real estate sales incurs fixed costs. Sellers and buyers usually split these costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since Americn Hero Mortgage is highly experienced with closings and mortgages, we can help you understand your closing costs.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We answer buyers' questions about closing costs every day at Americn Hero Mortgage, so please feel free to ask if you have questions.
Below you'll find a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Pulling YourCredit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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