All residential real estate transactions incurs fixed costs. Sellers and buyers customarily split these closing costs, as the sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting the mortgage. Since Bright Vision Mortgage has extensive experience with mortgages & closings, we are closing cost experts.
Very shortly after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Bright Vision Mortgage's experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Bright Vision Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Escrow Fees Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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