How do Closing Costs Work?

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.

The Loan Estimate (Also known as the LE)

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

Loan-Related Costs
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

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

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question

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