There are certain standard costs associated with closing the sale of a house. Sellers and buyers almost always split these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying a house are associated with getting the mortgage. Since Victoria Capital Mortgage Company is highly experienced with closings and mortgages, we are closing cost experts.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Victoria Capital Mortgage Company's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers almost every day, so we are happy to answer the you have about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed 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 CostsLoan-Related Costs
- Various Taxes
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)