Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Buyers & sellers negotiate to determine who will pay different portions of these costs.

As indicated below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At Foxfield Financial, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you apply for a loan, we will give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We go over Loan Estimates with buyers almost every day, so we are happy to answer the you have about closing costs.

We've provided a general list of these costs below, but we will provide 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

• Various Taxes
• Loan Origination Fee
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Interest Payment
• Escrow Account

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

• Title Insurance
• Flood / Quake Insurance
• Private Mortgage Insurance (PMI)

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