Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that cover various services involved when you sell or buy a home. Sellers & buyers negotiate these costs.

As indicated below, many of the buyer's costs cover the costs of getting the loan. Since ADVISORY MORTGAGE has extensive experience with mortgages & closings, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We explain LEs with buyers every day, so we are happy to answer your questions about closing costs.

We've provided a general list of these costs below, but we'll provide 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

• Loan-related costs
• Points — lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment
• Escrow Account
• Various Taxes

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

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