About Closing Costs

There are certain standard costs associated with closing the sale of a house. Sellers and buyers almost always split these closing costs, as the sales contract specifies.

As indicated below, many of the costs result from getting your loan. At Foxfield Financial, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (LE)

Very shortly after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We handle questions about closing costs every day at Foxfield Financial, so don't hesitate to ask if we can help answer your questions.

Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Foxfield Financial, we answer questions about closing costs every day. Give us a call: 720-598-8300.

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