Closing Costs for Home Real Estate Transactions
All residential real estate transactions incurs certain fixed costs. Buyers and sellers almost always split these closing costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Augusta Mortgage Solutions, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Very shortly after you submit your application, we'll give you a "Loan Estimate" of your costs. This cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your closing costs to the penny. We handle questions about closing costs every day at Augusta Mortgage Solutions, so please feel free to contact us if you have questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed 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
- Getting YourCredit 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)
- Appraisal Costs
Property Taxes
- Transfer Taxes & Recording Fees
- Insurance
Homeowners Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
At Augusta Mortgage Solutions, we answer questions about closing costs every day. Give us a call: 7068605514.