Closing Costs for Residential Real Estate Transactions

There are certain standard costs related to closing the sale of a home. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's costs cover the costs of getting the mortgage loan. At Victoria Capital Mortgage Company, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.

Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Victoria Capital Mortgage Company can help you understand closing costs. Call us at 408.399.0103.