How do Closing Costs Work?

"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Sellers and buyers negotiate these closing costs.

As indicated below, many of the costs result from getting your mortgage loan. At Americn Hero Mortgage, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimate (LE)

Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often vary a little bit between the LE and closing. We answer questions about closing costs every day at Americn Hero Mortgage, so please be sure to contact us if you have questions.

We've provided a general list of these 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
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

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

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