About Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a house. Buyers & sellers usually negotiate to decide how to split these closing costs.

Many of the closing costs associated with buying residential real estate are associated with getting a loan. At ADVISORY MORTGAGE, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (LE)

Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on ADVISORY MORTGAGE's experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We field buyers' questions about these costs every day at ADVISORY MORTGAGE, so please be sure to contact us if we can help answer your questions.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your 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

• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Interest Payment
• Escrow Fees
• Taxes
• Loan-related costs

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

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

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