"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Buyers and sellers often negotiate these closing costs.
As indicated below, many of the buyer's costs are related to the costs of originating the loan. 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".
Very shortly after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.
Below you'll find a fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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