"Closing Costs" are the fees that pay for various services involved when you sell or buy residential real estate. Sellers and buyers negotiate to decide how to share these costs.
As the list below indicates, many of the costs result from getting your mortgage loan. Since Channel Mortgage LLC is highly experienced with mortgages and closings, we are closing cost experts.
Very soon after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. This closing cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always predict your costs to the penny. We handle questions about these costs every day at Channel Mortgage LLC, so please be sure to ask if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your 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
TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Escrow Account
Insurance Transfer Taxes and Recording Fees
Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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