"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Sellers and buyers often negotiate these costs.
Many of the costs associated with buying residential real estate are associated with getting a loan. At Bright Vision Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you submit your application, we'll give you a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Bright Vision Mortgage's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at the closing table.
Below you'll find a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Up-front Interest Payment Escrow Account TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Credit Report
Insurance Transfer Taxes and Recording Fees
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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