Your Closing Costs

"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Sellers and buyers negotiate the payment of these closing costs.

As indicated below, many of the closing costs result from getting your mortgage loan. Since American Commerce Mortgage is highly experienced with closings & mortgages, we often explain the details of closing costs.

The Loan Estimate (LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we can't always predict closing costs to the penny. We field questions about closing costs every day at American Commerce Mortgage, so don't hesitate to ask if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan 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
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

American Commerce Mortgage can answer questions about these closing costs. Give us a call: 714-970-9700.

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