Don't Forget Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a house. Sellers & buyers almost always negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Avalon Mortgage Services, Inc., we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we cannot always estimate your closing costs to the penny. We field buyers' questions about these costs every day at Avalon Mortgage Services, Inc., so please feel free to ask if we can help answer your questions.

Below is a generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Avalon Mortgage Services, Inc. can answer questions about these closing costs. Call us at (708) 403-5181.

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