How do Closing Costs Work?

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

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

Loan Estimate (Also known as the LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We handle questions about these costs every day at Firelight Mortgage Consultants, so please feel free to ask if you have questions.

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

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Firelight Mortgage Consultants can answer questions about these closing costs. Give us a call: 3032282254.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question

Firelight Mortgage Consultants

Company NMLS#: 381658

7887 East Belleview Ave Ste 1100
Englewood, CO 80111