About Closing Costs

"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Sellers & buyers often negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the loan. Since American Commerce Mortgage has extensive experience with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on American Commerce Mortgage's experience with mortgage loans, but costs often vary by small amounts between delivery of the Loan Estimate (LE) and closing. We explain LEs with buyers every day, so we will be happy to answer the you have about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

American Commerce Mortgage can answer questions about these closing costs. Call us at 714-970-9700.

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