How do Closing Costs Work?

All residential real estate transactions involves certain fixed costs. Sellers and buyers almost always split these closing costs, as the sales contract specifies.

As you'll see below, many of the buyer's costs are related to the costs of getting the loan. Since Augusta Mortgage Solutions has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimate (Also known as the LE)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on Augusta Mortgage Solutions's experience with mortgage loans, but costs often vary by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at closing.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your application. At Augusta Mortgage Solutions, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

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

Augusta Mortgage Solutions can answer questions about these closing costs. Give us a call: 7068605514.

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Augusta Mortgage Solutions

NMLS#:148529 GA Residential Mortgage Licensee #18861

141 North Belair Road Suite 102 NMLS# 149807
Evans, GA 30809-7431