Your Closing Costs

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There are certain standard costs related to closing the sale of a house. Buyers and sellers usually share these costs, as the sales contract specifies.

As indicated below, many of the costs result from getting your loan. Since Victoria Capital Mortgage Company is highly experienced with mortgages and closings, we often explain the details of closing costs.

Good Faith Estimates (GFEs)

Soon after you submit your application, we will provide you with the "Good Faith Estimate" of your costs. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually change by small amounts between the Good Faith Estimate (GFE) and closing. We explain Good Faith Estimates with buyers almost 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 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 Costs

Loan-Related Costs

• Costs related to "originating" your loan
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Fees
• Various Taxes

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

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

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