Don't Forget Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers & sellers usually negotiate these costs.

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

Good Faith Estimates (GFEs)

Soon after you apply for a loan, 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 accurate, we can't always estimate closing costs to the penny. We review Good Faith Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

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 complete your loan application. At Channel Mortgage LLC, 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
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

Channel Mortgage LLC can help you understand closing costs. Call us at (718) 639-9500.

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