What are Closing Costs?

Every home sale involves certain fixed costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.

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

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Alternative Mortgage Group's experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We field 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 fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Alternative Mortgage Group, we answer questions about closing costs every day. Give us a call: 561-395-4264.

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

Tell us about your loan needs.
How can we get in touch with you?
Tell us about your credit history.
By checking the box, you agree that Alternative Mortgage Group may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.

Alternative Mortgage Group

80 SW 14 Ave
Boca Raton, FL 33486