There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a home are associated with getting the loan. Since Colorado Mortgage Company is highly experienced with mortgages & closings, we are closing cost experts.
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Colorado Mortgage Company, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Points — A fee paid to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee
Insurance Transfer Taxes and Recording Fees
Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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