Closing Costs for Residential Real Estate Transactions

Every home sale incurs certain fixed costs. Buyers and sellers customarily share these closing costs, as specified in the real estate sales contract.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Bright Vision Mortgage is highly experienced with mortgages & closings, we often explain the details of closing costs.

The Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we cannot always predict costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.

Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Bright Vision Mortgage, we answer questions about closing costs every day. Call us: (904) 342-3622.

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2800 North Fifth Street Suite 301B
St. Augustine, FL 32084