What are Closing Costs?

"Closing Costs" are the fees which cover various services involved in the sale of a house. Buyers & sellers usually negotiate the payment of these costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since One Source Lending 303-220-7500 is highly experienced with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We go over LEs 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 provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

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

One Source Lending 303-220-7500 can answer questions about these closing costs. Call us at 303-220-7500.