Your Closing Costs

All residential real estate transactions involves fixed costs. Buyers and sellers customarily share these closing costs, as the real estate sales contract specifies.

As the list below indicates, many of the costs result from getting your loan. Since ADVISORY MORTGAGE has extensive experience with mortgages & closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This 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 predict costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.

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 complete 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

• Escrow Account
• Taxes
• Loan-related costs
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Up-front Interest Payment

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

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

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