Every home sale involves certain costs. Sellers and buyers customarily split these closing costs, as specified in the real estate sales contract.
Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. At Bright Vision Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always estimate costs to the penny. We answer questions about these costs every day at Bright Vision Mortgage, so don't hesitate to ask if we can help answer your questions.
Below is a generic list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Costs Pulling Your Credit Report Up-front Interest Payment Escrow Account TaxesLoan Origination Fee Points — lower your interest rate (optional) Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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