Don't Forget Closing Costs

There are certain standard costs related to closing the sale of a house. Sellers and buyers usually split these costs, as the sales contract specifies.

Many of the closing costs associated with buying a home are associated with getting the loan. Since Victoria Capital Mortgage Company is highly experienced with closings and mortgages, we often explain the details of closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We explain 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'll provide you a specific list of closing costs, with amounts, soon after you complete your application. At Victoria Capital Mortgage Company, 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
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Victoria Capital Mortgage Company can answer questions about these closing costs. Give us a call: 408.399.0103.