Alternative Mortgage Group can answer questions about these closing costs. Give us a call: 561-395-4264.
There are certain standard costs associated with closing the sale of a house. Buyers usually incur these closing costs, as the real estate sales contract specifies, however, depending on the contract the seller may have to split some of the closing costs.
"Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. These fees might be paid directly or indirectly by crediting the loan.
As the list below indicates, many of the closing costs result from getting your loan. Since Alternative Mortgage Group is highly experienced with closings and mortgages, we often explain the details of closing costs.
The Loan Estimate
Three days after you apply for a loan, we will provide you with a Loan Estimate. The Loan Estimate lays out information like insurance and taxes, closing costs, monthly payments and more. Getting an estimate doesn't mean you've been approved, rather it's the first step toward securing your loan.
We will be glad to review the estimate, answering questions and highlighting costs that sometimes change slightly at the closing table.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Alternative Mortgage Group, 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 — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Shopping for a mortgage loan? We will be glad to assist you! Call us at 561-395-4264. Want to get started? Apply Online Now