Closing Costs for Residential Real Estate Transactions

"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".

Loan Estimate (LE)

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

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Bright Vision Mortgage can help you understand closing costs. Call us at (904) 342-3622.

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