What are Closing Costs?

"Closing Costs" are the fees which cover various services involved in the sale of a house. Buyers and sellers almost always negotiate these closing costs.

As the list below indicates, many of the costs result from getting your mortgage loan. At One Source Lending 303-220-7500, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.

Below you'll find a general list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

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

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