How do Closing Costs Work?

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Buyers & sellers negotiate the payment of these closing costs.

As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. Since AA Mortgage LLC has extensive experience with mortgages and closings, we can help you understand your closing costs.

Loan Estimate (LE)

Soon after you submit your application, we'll give you the "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between the LE and closing. We handle buyers' questions about closing costs every day at AA Mortgage LLC, so please be sure 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 complete your loan application. At AA Mortgage LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

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

At AA Mortgage LLC, we answer questions about closing costs every day. Call us: 713-370-LOAN (5626).

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