Your Closing Costs

Certain standard costs are related to closing the sale of a house. Sellers and buyers usually share these closing costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a home are associated with getting the loan. Since ADVISORY MORTGAGE has extensive experience with closings & mortgages, we are closing cost experts.

Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary 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 can vary a little bit at closing.

Below you'll find a generic list of costs for buying residential real estate. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Fees
• Taxes
• Costs related to "originating" your loan
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Up-front Interest Payment

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

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

ADVISORY MORTGAGE can help you understand closing costs. Give us a call: 8102292820.