There are certain standard costs related to closing the sale of a home. Sellers and buyers almost always share these costs, as specified in the sales contract.
As you'll see below, many of the buyer's costs cover the costs of getting the mortgage loan. At Bright Vision Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".
Soon after you submit your application, we will give you the "Good Faith Estimate" of your costs. We base this closing cost estimate on our many years of past experience. Please note that while our GFEs are very precise, we cannot always estimate costs to the penny. We review GFEs with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
Below you'll find a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional)
Transfer Taxes & Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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