"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Sellers & buyers often negotiate to determine who will pay different portions of these costs.
As indicated below, many of the costs result from getting your mortgage. Since Bright Vision Mortgage is highly experienced with mortgages and closings, we are closing cost experts.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Bright Vision Mortgage's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We go over LEs with buyers every day, so we'd be glad to answer the you have about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your 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 Escrow Account TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Costs Obtaining Your Credit Report Interest Payment Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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