"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Buyers & sellers almost always negotiate these costs.
As indicated below, many of the costs result from getting your mortgage. Since AmeriBest Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on AmeriBest Mortgage's experience with mortgage loans, but costs usually change by small amounts between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your loan 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 Loan-Related Costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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