We are a local Colorado based mortgage company. We have been in business for over 16 years. Leveraging our network of 85 wholesale lenders we are able to offer our clients rates that are unbelievably low at very nominal to no closing costs. We get loans done fast and with no hassle. Even though our rates are wholesale, our service is definitely retail. Now you can have it all, wholesale rates, retail service
Closing Costs - Purchase
ONLY $1175 fees from the lender:
$1175 - Combined lender fees
$75 - Credit report
From the title company (You or the seller decides title company not the lender and remains the same regardless of your ultimate lender choice):
$675 - Escrow and closing fee
$575 - Lender’s title insurance
From the county and state of Colorado:
$171 - County recording fee
0.01% of the purchase price - State Tax e.g. for a $500,000 purchase price this will be $50
Lender closing cost credit can be applied to the above to reduce the out of pocket. In some cases the lender closing cost credit will pay all the closing costs.
Closing Costs - Refinance
From the lender:
$1100 - Underwriting and other fees on conventional refinance
$555 - Underwriting fee on VA IRRRL refinance
$75 - Credit report
From the title company (You can decide the title company):
$450 - Escrow and closing fee
$955 - Lender’s title insurance
From the county and state of Colorado:
$175 - County recording fee
Lender closing cost credit can be applied to the above to reduce the out of pocket. In some cases the lender closing cost credit will pay all the closing costs.
From the Appraiser:
$650 to $760 - paid to the appraiser, prior to closing and this charge is there even if the transaction does not close… hence not a closing cost
$0 if the transaction qualifies for NO Appraisal
Prepaid charges and Escrows
Home owner's insurance first 12 months premium:
This comes from your insurance agent. Typically; would be about $1,000 to $3000 depends on the size of the home and what you and your agent work out.
Initial deposit in escrow account:
Setup for payment of property taxes and renewal of home owners insurance: Approx. $1300. This not a charge or a fee but your money being set aside for future use. This can be waived IF you prefer to pay your own taxes and insurance.
