About Closing Costs
Every home sale involves certain costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's closing costs cover the costs of getting the mortgage loan. Since Victoria Capital Mortgage Company is highly experienced with closings and mortgages, we are closing cost experts.
Loan Estimates (LEs)
Soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. This cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we can't always estimate costs to the penny. We explain Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very 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
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
- Costs associated with "originating" your loan
Property Taxes
- Insurance
- Transfer Taxes and Recording Fees
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 4083990103.