"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Sellers and buyers usually negotiate the payment of these costs.
Many of the costs associated with buying a home are associated with getting a loan. Since Bright Vision Mortgage is highly experienced with mortgages and closings, we can help you understand your closing costs.
Very shortly after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Bright Vision Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the Loan Estimate (LE) and closing. We handle questions about closing costs every day at Bright Vision Mortgage, so please feel free to ask if we can help answer your questions.
Below is a general list of costs for buying a home. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Obtaining YourCredit Report Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Costs
Recording Fees & Transfer Taxes Insurance
Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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