Closing Costs for Residential Real Estate Transactions

Every home sale incurs certain costs. Buyers and sellers usually share these closing costs, as the sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting the mortgage. Since Firelight Mortgage Consultants has extensive experience with closings and mortgages, we can help you understand your closing costs.

The Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we cannot always estimate closing costs to the penny. We handle questions about closing costs every day at Firelight Mortgage Consultants, so please feel free to contact us if we can help answer your questions.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Firelight Mortgage Consultants, 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
  • Escrow Fees
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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

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