"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Sellers & buyers usually negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the closing costs result from getting your mortgage. At Foxfield Financial, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Very soon after you apply for a loan, we will provide you with a "Good Faith Estimate" of your costs. The cost estimate comes out of the loan officer's past experience. It's important to note that while our GFEs are very precise, we can't always predict your costs to the penny. We answer questions about closing costs every day at Foxfield Financial, so don't hesitate to ask if you have questions.
Below is a general list of closing costs. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment
Recording Fees and Transfer Taxes Insurance
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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