About Closing Costs

All residential real estate sales incurs certain fixed costs. Sellers and buyers usually share these closing costs, as the sales contract specifies.

Many of the closing costs associated with buying a house are associated with getting the loan. Since Channel Mortgage LLC is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on Channel Mortgage LLC's experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We explain LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below is a general list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

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

Channel Mortgage LLC can help you understand closing costs. Give us a call at (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