Your Closing Costs

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers often negotiate these costs.

As you'll see below, many of the closing costs result from getting your mortgage loan. At American Commerce Mortgage, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very shortly after you submit your application, we will provide you with the "Loan Estimate" of your costs. This cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We go over Loan Estimates with buyers every day, so we'd be glad 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 have completed your application. At American Commerce Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

American Commerce Mortgage can help you understand closing costs. Call us: 714-970-9700.

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