What are Closing Costs?

"Closing Costs" are the fees that cover the various services involved in the sale of a house. Buyers and sellers usually negotiate to decide how to share these closing costs.

As you'll see below, many of the buyer's closing costs cover the costs of originating the loan. At Americn Hero Mortgage, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we can't always predict costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan 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
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Americn Hero Mortgage can answer questions about these closing costs. Give us a call at 754-202-4376.

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