"Closing Costs" are the fees which cover the various services involved in the sale of a home. Sellers & buyers often negotiate these closing costs.
As indicated below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At AmeriBest Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At AmeriBest Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Getting YourCredit Report Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs
Recording Fees & Transfer Taxes Insurance
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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