About Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of a house. Buyers & sellers almost always negotiate these closing costs.

Many of the closing costs associated with buying a home are associated with getting a mortgage loan. Since ADVISORY MORTGAGE is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We answer questions about these costs every day at ADVISORY MORTGAGE, so please feel free to contact us if you have questions.

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 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

• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Fees
• Taxes
• Costs associated with "originating" your loan
• Points — A fee paid to lower your mortgage interest rate (optional)

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

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

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