"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Sellers & buyers almost always negotiate the payment of these costs.
Many of the costs associated with buying a home are associated with getting the loan. At Foxfield Financial, we have extensive experience in residential 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'll give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Foxfield Financial's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your application. At Foxfield Financial, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Pulling YourCredit Report Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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