Understanding Colorado Mortgage Closing Costs

Closing costs are costs associated with getting a mortgage. They can be broken up into two categories:

Prepaids - which are costs associated with setting up your new loan.

Closing Costs - which are costs associated with paying for the service of obtaining a mortgage.

The complete list of prepaids and closing costs.

How to avoid paying closing costs out of your pocket:

You could ask the seller to pay your closing costs. This would happen as part of the negotiation process associated with buying your new home.

You could ask your lender to price your closing costs into the rate. How does this work?

You could also ask your mortgage consultant for a home loan where closing costs are included in the principal balance of your new loan.

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