All residential real estate transactions incurs certain costs. Buyers and sellers almost always split these costs, as the sales contract specifies.
As you'll see below, many of the buyer's costs cover the costs of getting the loan. Since Team USA Mortgage has extensive experience with mortgages and closings, we are closing cost experts.
Very soon after you submit your application, we will give you the "Loan Estimate" of your closing costs. The cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We handle buyers' questions about closing costs every day at Team USA Mortgage, so don't hesitate to contact us if you have questions.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Escrow Account Various TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Interest Payment
Transfer Taxes and Recording Fees Insurance
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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