All residential real estate transactions involves fixed costs. Buyers and sellers usually split these costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's costs cover the costs of originating the loan. Since Americn Hero Mortgage has extensive experience with closings and mortgages, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate is based on the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Escrow Fees TaxesLoan-related costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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