Don't Forget Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of a home. Sellers and buyers negotiate to decide how to share these closing costs.

Many of the closing costs associated with buying a house are associated with getting the loan. At ADVISORY MORTGAGE, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of the loan officer's 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 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 loan application. At ADVISORY 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

• Interest Payment
• Escrow Account
• Various Taxes
• Loan Origination Fee
• Points — lower your mortgage interest rate (optional)
• Appraisal Fee
• Credit Report

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance if applicable

ADVISORY MORTGAGE can answer questions about these closing costs. Call us: 8102292820.