Loan Process
Your Closing Costs

Closing costs are fees paid at the closing of a real estate transaction when the title to the property is conveyed to the buyer. Closing costs are incurred by either the buyer or the seller. There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As we negotiate the sales contract for you. We will not only work to get the sales price you want, but we will also work to limit the number of closing costs for which you will be responsible. We will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. We will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates we believe to be low.

Standard Closing Costs

Loan-Related Costs

·         Loan Origination Fee

·         Points (optional)

·         Appraisal Fee

·         Credit Report

·         Interest Payment

·         Escrow Account

Taxes

·         Property Taxes

·         Transfer Taxes and Recording Fees

Insurance

·         Homeowners Insurance

·         Flood or Quake Insurance

·         Private Mortgage Insurance (PMI)

·         Title Insurance

 

Meet Our Team

American Mortgage Resource Inc.

2 Winter St Suite #202, Waltham - MA - 02451
Phone: 1-617-972-8588
MA LIC # MB22431 NMLS ID Originator 22718
Member of the Cambridge Chamber of Commerce
Member of Massachusetts Mortgage Bankers Association
Member of Massachusetts Mortgage Association
NAMB

FHA & VA Approved | Residential and Commercial Lending | Reverse Mortgages Available | Boston and Massachusetts

VIEW MAP