What are Closing Costs?

There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily split these closing costs, as specified in the real estate sales contract.

As you'll see below, many of the costs result from getting your mortgage loan. At Firelight Mortgage Consultants, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always predict closing costs to the penny. We answer buyers' questions about these costs every day at Firelight Mortgage Consultants, so don't hesitate to contact us if you have questions.

Below is a fairly 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
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

At Firelight Mortgage Consultants, we answer questions about closing costs every day. Call us at 3032282254.

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Firelight Mortgage Consultants

Company NMLS#: 381658

7887 East Belleview Ave Ste 1100
Englewood, CO 80111