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The Loan Process

Don't Forget About Closing Costs

Every home sale involves costs. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.

Many of the costs associated with buying a home are associated with getting the mortgage loan. At Team USA Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very shortly after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We handle questions about these costs every day at Team USA Mortgage, so don't hesitate 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 have completed your loan application. At Team USA Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.


Resources

Loan-Related Costs

  • Points — A fee paid to lower your interest rate (optional)

  • Appraisal Costs

  • Getting Your Credit Report

  • Interest Payment

  • Escrow Fees

  • Various Taxes

  • Loan-related costs 

Property Taxes

  • Transfer Taxes & Recording Fees

  • Insurance

Homeowners Insurance

  • Private Mortgage Insurance (PMI)

  • Title Insurance

  • Flood or Quake Insurance if applicable

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  • Company State Licenses
  • Privacy Policy

NMLS     |     FAIR LENDER     |     FAIR HOUSING

 

MB. 6760743 NMLS ID. 9908 Team USA Mortgage, L.L.C. -Illinois Residential Mortgage Licensee

*Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking - Bureau of Residential Finance Chicago Office: 555 West Monroe Street, 5th Floor; Chicago, Illinois 60661

General Inquiries: 1-888-473-4858; TYY: 1-866-325-4949 -Chicago Office Line for Banking: (312) 793-7090 -Email General Questions for the Division of Banking Website: https://idfpr.illinois.gov

For licensing information, go to: www.nmlsconsumeraccess.org

Team USA Mortgage LLC NMLS# 9908

1709 Tullamore Ave, Suite D

Bloomington, IL 61704

E:  Gloria.gunn@teamusamtg.com

T: 312-774-6348

 

*STATE OF ILLINOIS COMMUNITY REINVESTMENT NOTICE
The Department of Financial and Professional Regulation (Department) evaluates our performance in meeting the financial services needs of this community, including the needs of low-income to moderate-income households. The Department takes this evaluation into account when deciding on certain applications submitted by us for approval by the Department. Your involvement is encouraged.

You may submit signed, written comments about our performance in meeting community financial services needs to the department.

NMLS     |     FAIR LENDER     |     FAIR HOUSING

 

MB. 6760743 NMLS ID. 9908 Team USA Mortgage, L.L.C. -Illinois Residential Mortgage Licensee

*Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking - Bureau of Residential Finance Chicago Office: 555 West Monroe Street, 5th Floor; Chicago, Illinois 60661

General Inquiries: 1-888-473-4858; TYY: 1-866-325-4949 -Chicago Office Line for Banking: (312) 793-7090 -Email General Questions for the Division of Banking Website: https://idfpr.illinois.gov

For licensing information, go to: www.nmlsconsumeraccess.org