What are Closing Costs?

Certain standard costs are related to closing the sale of a house. Sellers and buyers almost always share these closing costs, as specified in the sales contract.

Many of the closing costs associated with buying a home are associated with getting a mortgage loan. Since Firelight Mortgage Consultants is highly experienced with closings and mortgages, we often explain the details of closing costs.

Loan Estimate (Also known as the LE)

Very shortly after you apply for a loan, we'll give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on Firelight Mortgage Consultants's experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We handle questions about closing costs every day at Firelight Mortgage Consultants, so don't hesitate to ask if we can help answer your questions.

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

Standard Closing Costs

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

Firelight Mortgage Consultants can answer questions about these closing costs. Give us a call at (303) 228-2254.

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