About Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a house. Buyers and sellers negotiate to determine who will pay different portions of these costs.

Many of the costs associated with buying a home are associated with getting a mortgage loan. Since U.S.A. Lending, Inc. has extensive experience with mortgages & closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Very soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At U.S.A. Lending, Inc., 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
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Account
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

U.S.A. Lending, Inc. can answer questions about these closing costs. Call us: 305-967-7200.

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