"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers & sellers often negotiate to determine who will pay different portions of these costs.
Many of the closing costs associated with buying a house are associated with getting the mortgage. At Foxfield Financial, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at the closing table.
Below you'll find a fairly generic list of closing costs. We will always provide you with 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 Fee Pulling Your Credit Report Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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