About Closing Costs

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Certain standard costs are associated with closing the sale of a house. Buyers and sellers usually split these costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's costs are related to the costs of originating the loan. Since VENTURE DEVELOPMENT INC is highly experienced with closings & mortgages, we often explain the details of closing costs.

The Good Faith Estimate (GFE)

Very shortly after you submit your application, we'll provide you with a "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we can't always estimate costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that can vary a little bit at closing.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At VENTURE DEVELOPMENT INC, 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

• Loan-related costs
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account
• Various Taxes

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

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

VENTURE DEVELOPMENT INC can answer questions about these closing costs. Call us: 952-929-2577.