Closing Costs

There are certain standard costs related to closing the sale of a house. Sellers and buyers customarily share these costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. Since ADVISORY MORTGAGE is highly experienced with mortgages and closings, we can help you understand your closing costs.

Loan Estimate (Also known as the LE)

Soon after you submit your application, 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 by small amounts between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at closing.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At ADVISORY 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 — lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment
• Escrow Account
• Taxes
• Loan Origination Fee

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Title Insurance
• Flood / Quake Insurance
• Private Mortgage Insurance (PMI)

At ADVISORY MORTGAGE, we answer questions about closing costs every day. Give us a call: 8102292820.