There are certain standard costs associated with closing the sale of a home. Buyers and sellers usually share these costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a house are associated with getting the loan. Since AmeriBest Mortgage has extensive experience with mortgages and closings, we often explain the details of closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at closing.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At AmeriBest Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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