Certain standard costs are associated with closing the sale of a house. Buyers and sellers almost always share these closing costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a home are associated with getting the mortgage. Since Colorado Mortgage Company is highly experienced with closings and mortgages, we often explain the details of closing costs.
Very shortly after you submit your application, we will give you a "Loan Estimate" of your costs. We base this 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 field buyers' questions about closing costs every day at Colorado Mortgage Company, so don't hesitate to contact us if you have 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 have completed your 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 CostsLoan-Related Costs Appraisal Costs Credit Report Interest Payment Escrow Account Various Taxes Points — A fee paid to lower your interest rate (optional) Property Taxes Insurance Recording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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