Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Sellers & buyers almost always negotiate to decide how to share these closing costs.

Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. At Firelight Mortgage Consultants, we have extensive experience in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we can't always estimate costs to the penny. We explain Loan Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.

Below you'll find a fairly general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

At Firelight Mortgage Consultants, we answer questions about closing costs every day. Give us a call at (303) 228-2254.

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