About Closing Costs

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"Closing Costs" are the fees that cover the various services involved in the sale of a house. Sellers and buyers usually negotiate to decide how to share these closing costs.

As the list below indicates, many of the costs result from getting your mortgage. At American Capital Home Loans, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you submit your application, we will give you a "Good Faith Estimate" of your costs. The closing costs specified in the Good Faith Estimate are estimated based on American Capital Home Loans's experience with mortgage loans, but costs usually vary a little bit between delivery of the GFE and closing. We explain GFEs with buyers almost every day, so we will be happy to answer any questions you have about closing costs.

Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Points — lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Fees
• Taxes
• Loan-related costs

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Title Insurance
• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)

American Capital Home Loans can help you understand closing costs. Give us a call at 760.975.0255.