What are Closing Costs?

Every home sale involves certain costs. Sellers and buyers customarily split these closing costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's costs are related to the costs of originating the loan. At Americn Hero Mortgage, we are highly experienced in 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 receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often vary by small amounts between delivery of the LE and closing. We review Loan Estimates 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 give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Americn Hero Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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

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