What are Closing Costs?

Every home sale incurs fixed costs. Sellers and buyers customarily split these closing costs, as the sales contract specifies.

Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. At Bright Vision Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimate (GFE)

Soon after you apply for a loan, we will provide you with a "Good Faith Estimate" of your closing costs. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the GFE and closing. We handle buyers' questions about these costs every day at Bright Vision Mortgage, so please be sure to contact us if you have questions.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan 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
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

Bright Vision Mortgage can answer questions about these closing costs. Call us: (904) 342-3622.

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