Jeni VanOrnum | Real Estate Insights & Education

Closing costs surprise many first-time homebuyers. I’m Jeni VanOrnum, your Douglas County real estate agent, breaking down exactly what closing costs you’ll pay in 2024.

What Are Closing Costs?

Closing costs are fees and expenses paid when your purchase is finalized. In Douglas County, expect 2-5% of purchase price. On a $400,000 home, that’s $8,000-$20,000—significant money first-time buyers must budget beyond down payment.

Lender Fees

Loan origination fees (0.5-1% of loan amount) cover mortgage processing. Appraisal fees ($400-600 in Douglas County) ensure home value supports the loan. Credit report fees ($25-50) cover pulling your credit. Underwriting fees vary by lender.

Title and Escrow Costs

Title insurance (varies by price) protects against ownership disputes. Title search fees verify clear ownership. Escrow fees cover neutral third parties managing transactions. In Douglas County, these combined often run $1,500-3,000.

Prepaid Items

You’ll prepay certain costs at closing. Property taxes (prorated from closing date) vary by Douglas County location—Castle Rock, Parker, and Highlands Ranch have different rates. Homeowners insurance (first year premium, typically $1,200-2,000) must be paid upfront. Prepaid interest covers the period between closing and your first payment.

Other Expenses

Home inspection fees ($400-600) are typically paid before closing but factor into total costs. Survey fees (if required) verify property boundaries. HOA transfer fees and first month’s dues (common in Douglas County) can add hundreds.

Negotiating Closing Costs

In current conditions, sellers sometimes contribute to buyer closing costs. You can request 2-3% in seller concessions, reducing out-of-pocket expenses. Down payment assistance programs can also cover some costs.

Cash to Close Calculation

Your total cash needed includes down payment, closing costs, minus earnest money already deposited and any seller concessions. Your lender provides a Closing Disclosure three days before closing showing exact amounts.

Plan Ahead

Ready to understand your specific Douglas County closing costs? Contact Jeni VanOrnum today for accurate budgeting help.