Conventional Closing Costs

Typically 2-5% of the loan amount plus 1.75% PMI. On a $400K loan, expect $12,600-$16,400. The PMI can be financed into the loan so you do not pay it out of pocket.

Yes. conventional allows the seller to pay up to 6% of the purchase price toward buyer closing costs. On a $400K home, that is up to $24,000 — more than enough to cover all closing costs.

No. Valley West Mortgage charges zero application fees and zero processing fees. As an independent broker, our fee comes from the lender side — you pay nothing extra compared to going directly to the lender.

The PMI (1.75%) can be financed into the loan. Other closing costs generally cannot be rolled in unless the appraised value exceeds the purchase price, allowing you to finance the difference.

Negotiate seller concessions (up to 6%), use down payment assistance programs, choose a lender with no application fees (like Valley West), and compare title companies. Lender credits can also offset costs in exchange for a slightly higher rate.