There are certain standard costs associated with closing the sale of a house. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's costs cover the costs of getting the loan. At Alternative Mortgage Group, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you submit your application, we'll give you the "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We handle buyers' questions about these costs every day at Alternative Mortgage Group, so don't hesitate to ask if we can help answer your questions.
Below you'll find a generic list of costs for buying residential real estate. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Interest Payment Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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