There are certain standard costs related to closing the sale of a house. Sellers and buyers usually split these closing costs, as the sales contract specifies.
Many of the costs associated with buying a house are associated with getting a mortgage loan. Since The Reen Team at American Pacific Mortgage is highly experienced with closings and mortgages, we are closing cost experts.
Very shortly after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on The Reen Team at American Pacific Mortgage's experience with mortgage loans, but costs often vary a little bit between the LE and closing. We field questions about closing costs every day at The Reen Team at American Pacific Mortgage, so don't hesitate to contact us if you have questions.
Below is a fairly general list of costs for buying residential real estate. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Credit Report Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs
Insurance Transfer Taxes and Recording Fees
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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