Certain standard costs are associated with closing the sale of a home. Sellers and buyers usually split these costs, as specified in the sales contract.
As indicated below, many of the closing costs result from getting your mortgage. At Americn Hero Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we can't always estimate your costs to the penny. We explain LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll 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'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Interest Payment Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Pulling YourCredit Report Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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