Every home sale incurs fixed costs. Buyers and sellers customarily split these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a house are associated with getting a mortgage loan. Since Americn Hero Mortgage is highly experienced with mortgages & closings, we often explain the details of closing costs.
Very shortly after you submit your application, we'll give you the "Loan Estimate" of your closing costs. This closing cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can change slightly at closing.
Below you'll find a generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various TaxesCosts related to "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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