All residential real estate transactions involves costs. Sellers and buyers customarily split these costs, as specified in the sales contract.
Many of the closing costs associated with buying a house are associated with getting the mortgage. Since Alternative Mortgage Group has extensive experience with closings & mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We go over Loan Estimates with buyers every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your 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
Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Interest Payment Escrow Account
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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