"Closing Costs" are the fees that cover various services involved when you sell or buy a house. Sellers and buyers usually negotiate to decide how to share these closing costs.
As indicated below, many of the costs result from getting your loan. Since Alternative Mortgage Group has extensive experience with closings & mortgages, we can help you understand your closing costs.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.
Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — lower your interest rate (optional) Appraisal Fee
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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