"Closing Costs" are the fees that cover the various services involved in the sale of residential real estate. Sellers & buyers usually negotiate the payment of these closing costs.
As you'll see below, many of the costs result from getting your mortgage. At The Reen Team at American Pacific Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always estimate costs to the penny. We review 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 these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At The Reen Team at American Pacific Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Points — lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account TaxesLoan-related costs
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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