How do Closing Costs Work?

"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Sellers and buyers almost always negotiate to decide how to share these costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the loan. Since Alternative Mortgage Group is highly experienced with closings & mortgages, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Soon after you submit your application, we will give you the "Loan Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always predict costs to the penny. We go over Loan Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.

We've provided a general list of closing costs below, but we'll 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 will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Alternative Mortgage Group can answer questions about these closing costs. Give us a call at 561-395-4264.

Basic Pre-Approval

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Alternative Mortgage Group

80 SW 14 Ave
Boca Raton, FL 33486