Closing Costs for Residential Real Estate Transactions

There are certain standard costs associated with closing the sale of a house. Sellers and buyers customarily split these costs, as specified in the sales contract.

As indicated below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since Bright Vision Mortgage has extensive experience with closings & mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We review LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your 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
  • Obtaining YourCredit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Bright Vision Mortgage can answer questions about these closing costs. Call us: (904) 342-3622.

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