Closing Costs for Home Real Estate Transactions

Every home sale incurs fixed costs. Buyers and sellers almost always share these costs, as specified in the sales contract.

As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Alternative Mortgage Group, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We review LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below is a general list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

At Alternative Mortgage Group, we answer questions about closing costs every day. Call us at 561-395-4264.

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