There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.
As the list below indicates, many of the closing costs result from getting your loan. Since Alternative Mortgage Group has extensive experience with closings & mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always estimate closing costs to the penny. We explain Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.
Below is a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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