"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.
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
Points — lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees TaxesLoan-related costs
Transfer Taxes and Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.