Every home sale involves fixed costs. Sellers and buyers usually split these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since AmeriBest Mortgage is highly experienced with closings and mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We explain Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Obtaining YourCredit Report Interest Payment Escrow Account Various TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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