What are Closing Costs?

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.

Loan Estimate (Also known as the LE)

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 applicable
  • Private Mortgage Insurance (PMI)

At Americn Hero Mortgage, we answer questions about closing costs every day. Call us: 754-202-4376.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question

English French German Portuguese Spanish