What are Closing Costs?

"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Buyers & sellers negotiate these closing costs.

As you'll see below, many of the costs result from getting your mortgage loan. Since Foxfield Financial is highly experienced with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Very shortly after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on Foxfield Financial's experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (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.

Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)

Foxfield Financial can help you understand closing costs. Call us at 720-598-8300.

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