Don't Forget Closing Costs

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers and sellers often negotiate to determine who will pay different portions of these closing costs.

Many of the costs associated with buying a home are associated with getting a loan. Since Affinity Mortgage Brokers is highly experienced with mortgages & closings, we often explain the details of closing costs.

The Loan Estimate (LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate is based on our past experience. Please note that while our LEs are very precise, we cannot always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Affinity Mortgage Brokers, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)

Affinity Mortgage Brokers can answer questions about these closing costs. Call us: 719-331-6278.

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