Don't Forget Closing Costs

All residential real estate transactions incurs certain fixed costs. Sellers and buyers customarily split these costs, as the sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At Channel Mortgage LLC, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you submit your application, we will provide you with the "Good Faith Estimate" of your closing costs. We base this cost estimate on our extensive past experience. It's important to note that while our GFEs are very accurate, we can't always estimate your costs to the penny. We explain GFEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Channel Mortgage LLC, 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
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

Channel Mortgage LLC can answer questions about these closing costs. Call us: (718) 639-9500.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question