Closing Costs

Every home sale involves costs. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.

Many of the costs associated with buying a home are associated with getting the mortgage loan. At Team USA Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very shortly after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We handle questions about these costs every day at Team USA Mortgage, so don't hesitate to ask if we can help answer your questions.

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 Team USA Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Loan-Related Costs

• Points — A fee paid to lower your interest rate (optional)

• Appraisal Costs

• Getting Your Credit Report

• Interest Payment

• Escrow Fees

• Various Taxes

• Loan-related costs

Property Taxes

• Transfer Taxes & Recording Fees

• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)

• Title Insurance

• Flood or Quake Insurance if applicable