"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers and buyers often negotiate to decide how to split these closing costs.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. At AmeriBest Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We answer questions about closing costs every day at AmeriBest Mortgage, so don't hesitate to ask if you have questions.
We've provided a general list of these costs below, but we'll provide 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 Loan-Related Costs Credit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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