About Closing Costs

There are certain standard costs related to closing the sale of a house. Sellers and buyers customarily split these closing costs, as specified in the real estate sales contract.

As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. Since Foxfield Financial is highly experienced with mortgages and closings, we often explain the details of closing costs.

Loan Estimate (LE)

Very soon after you submit your application, we'll give you a "Loan Estimate" of your costs. This closing cost estimate is based on the loan officer's past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We answer questions about these costs every day at Foxfield Financial, so please be sure to ask if you have questions.

Below is a general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

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

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

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