What are Closing Costs?

"Closing Costs" are the fees that pay for the various services involved when you sell or buy residential real estate. Buyers and sellers often negotiate these closing costs.

As indicated below, many of the closing costs result from getting your mortgage loan. Since Bright Vision Mortgage has extensive experience with mortgages and closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate is based on our past experience. Please note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We answer questions about closing costs every day at Bright Vision Mortgage, so please feel free to contact us if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your application. At Bright Vision Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

Bright Vision Mortgage can help you understand closing costs. Call us at (904) 342-3622.

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