How do Closing Costs Work?

"Closing Costs" are the fees which cover the various services involved in the sale of a house. Buyers & sellers almost always negotiate to decide how to split these closing costs.

As indicated below, many of the costs result from getting your loan. Since Augusta Mortgage Solutions is highly experienced with mortgages and closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan 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
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining YourCredit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Augusta Mortgage Solutions can help you understand closing costs. Give us a call at 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