All residential real estate sales involves costs. Sellers and buyers usually split these costs, as specified in the real estate sales contract.
As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since AmeriBest Mortgage is highly experienced with mortgages & closings, we can help you understand your closing costs.
Soon after you submit your application, we'll provide you with the "Good Faith Estimate" of your costs. The closing costs enumerated in the GFE are estimated based on AmeriBest Mortgage's experience with mortgage loans, but costs usually vary a little bit between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can vary a little bit at closing.
Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Fees TaxesCosts associated with "originating" your loan Points — lower your interest rate (optional) Appraisal Costs Pulling YourCredit Report Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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