Your Closing Costs

"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Buyers and sellers usually negotiate to decide how to split these closing costs.

Many of the closing costs associated with buying a house are associated with getting the mortgage. At Foxfield Financial, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. 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 provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

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

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

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