Every home sale involves certain fixed costs. Sellers and buyers customarily share these costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since AmeriBest Mortgage is highly experienced with mortgages and closings, we can help you understand your closing costs.
Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. The closing costs specified 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 will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at the closing table.
Below is a fairly general list of costs for buying a home. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Costs Pulling Your Credit Report Interest Payment Escrow Account TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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