All residential real estate transactions incurs fixed costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.
As indicated below, many of the costs result from getting your loan. Since Bright Vision Mortgage has extensive experience with mortgages and closings, we can help you understand your closing costs.
Very shortly after you submit your application, we will give you a "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we cannot always estimate closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.
Below you'll find a generic list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Escrow Fees
Transfer Taxes and Recording Fees Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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