There are certain standard costs related to closing the sale of a home. Sellers and buyers almost always split these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At Foxfield Financial, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Foxfield Financial's experience with mortgage loans, but costs usually change by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.
Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs TaxesCosts associated with "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.