Closing Costs for Residential Real Estate Transactions

Every home sale incurs certain costs. Sellers and buyers almost always split these closing costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a house are associated with getting the mortgage loan. At Victoria Capital Mortgage Company, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we are happy to answer any questions you have about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Victoria Capital Mortgage Company, 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

• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Fees
• Various Taxes
• Loan-related costs

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance

At Victoria Capital Mortgage Company, we answer questions about closing costs every day. Call us at 4083990103.