Don't Forget Closing Costs

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers and sellers often negotiate these closing costs.

As indicated below, many of the buyer's costs cover the costs of getting the mortgage loan. Since The Reen Team at American Pacific Mortgage is highly experienced with mortgages & closings, we often explain the details of closing costs.

The Loan Estimate (Also known as the LE)

Soon after you submit your application, we will provide you with 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 cannot always estimate your closing costs to the penny. We handle questions about these costs every day at The Reen Team at American Pacific Mortgage, so please be sure to ask if you have questions.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At The Reen Team at American Pacific Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

The Reen Team at American Pacific Mortgage can answer questions about these closing costs. Give us a call: (408) 626-1879.

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