Don't Forget Closing Costs

"Closing Costs" are the fees that cover the various services involved in the sale of residential real estate. Buyers & sellers negotiate the payment of these costs.

As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. At ADVISORY MORTGAGE, we have extensive experience in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we'll give you a "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always predict costs to the penny. We answer questions about closing costs every day at ADVISORY MORTGAGE, so don't hesitate to ask if we can help answer your questions.

Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Account
• Various Taxes
• Costs related to "originating" your loan
• Points — lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

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

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