All residential real estate sales involves certain costs. Buyers and sellers almost always share these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's costs cover the costs of getting the loan. Since AmeriBest Mortgage is highly experienced 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. This cost estimate is based on our past experience. Please note that while our LEs are very precise, we cannot always estimate your costs to the penny. We field questions about these costs every day at AmeriBest Mortgage, so please be sure to ask if we can help answer your questions.
Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees Various Taxes Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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