About Closing Costs
"Closing Costs" are the fees which pay for the various services involved in the sale of residential real estate. Buyers & sellers usually negotiate these costs.
Many of the costs associated with buying a home are associated with getting a mortgage. 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 Estimates (LEs)
Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always predict your costs to the penny. We answer questions about these costs every day at Victoria Capital Mortgage Company, so please be sure to contact us if we can help answer your questions.
Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Loan-related costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Various Taxes
Property Taxes
- Transfer Taxes and Recording Fees
- Insurance
Homeowners Insurance
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Victoria Capital Mortgage Company can answer questions about these closing costs. Give us a call at 4083990103.