All residential real estate sales involves costs. Sellers and buyers customarily split these costs, as the sales contract specifies.
Many of the costs associated with buying a house are associated with getting a mortgage. At Foxfield Financial, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Soon after you apply for a loan, we will give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Foxfield Financial, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Escrow Account Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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