"Closing Costs" are the fees that cover the various services involved in the sale of residential real estate. Sellers and buyers usually negotiate these closing costs.
As you'll see below, many of the costs result from getting your mortgage. Since Augusta Mortgage Solutions is highly experienced with closings and mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Augusta Mortgage Solutions, 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 Getting YourCredit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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