Don't Forget Closing Costs

Every home sale incurs certain costs. Sellers and buyers customarily split these costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a house are associated with getting the mortgage. At Action Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Loan Estimate (LE)

Buyers get a Loan Estimate of closing costs around 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 usually change by small amounts between the LE and closing. We will be glad to review the Loan Estimate, answering your questions and pointing out costs that sometimes vary a little bit at closing.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Action Mortgage, 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
  • Appraisal Costs
  • Credit Report
  • Title Insurance
  • Costs associated with "originating" your loan
  • Transfer Taxes & Recording Fees

Pre-Paid Items (Reserves)

Property Taxes
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Action Mortgage can answer questions about these closing costs. Give us a call at (713) 723-7800.

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