Don't Forget Closing Costs

Every home sale incurs costs. Sellers and buyers usually share these costs, as specified in the sales contract.

As indicated below, many of the buyer's costs cover the costs of originating the loan. Since Channel Mortgage LLC has extensive experience with closings and mortgages, we are closing cost experts.

The Good Faith Estimate (GFE)

Soon after you apply for a loan, we'll give you a "Good Faith Estimate" of your costs. The closing costs spelled out in the Good Faith Estimate are estimated based on Channel Mortgage LLC's experience with mortgage loans, but costs usually change by small amounts between delivery of the GFE and closing. We field questions about these costs every day at Channel Mortgage LLC, so please be sure to contact us if you have questions.

Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs associated with "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Channel Mortgage LLC can answer questions about these closing costs. Give us a call at (718) 639-9500.

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