Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers negotiate to decide how to split these closing costs.

Many of the costs associated with buying a house are associated with getting the mortgage loan. At American Commerce Mortgage, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on American Commerce Mortgage's experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We handle questions about these costs every day at American Commerce Mortgage, so don't hesitate to contact us if we can help answer your questions.

Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

At American Commerce Mortgage, we answer questions about closing costs every day. Give us a call: 714-970-9700.

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