What are Closing Costs?

Every home sale involves fixed costs. Sellers and buyers customarily share these closing costs, as specified in the sales contract.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since The Reen Team at American Pacific Mortgage is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will 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 extensive past experience. It's important to note that while our LEs are very precise, we can't always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

Below you'll find a fairly general list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

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

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

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