Closing Costs for Home Real Estate Transactions

All residential real estate sales involves certain fixed costs. Buyers and sellers customarily split these closing costs, as specified in the sales contract.

As indicated below, many of the costs result from getting your mortgage. At Foxfield Financial, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. 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 estimate closing costs to the penny. We field questions about closing costs every day at Foxfield Financial, so please be sure to ask if you have questions.

Below is a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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

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