Closing Costs

Certain standard costs are related to closing the sale of a home. Sellers and buyers customarily split these costs, as the sales contract specifies.

Many of the closing costs associated with buying a home are associated with getting a mortgage. Since Colorado Mortgage Company is highly experienced with mortgages and closings, we are closing cost experts.

Good Faith Estimate (GFE)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always estimate costs to the penny. We review Good Faith Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.

Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Colorado Mortgage Company can help you understand closing costs. Give us a call at 719-357-6601.

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