There are certain standard costs related to closing the sale of a house. Sellers and buyers usually split these costs, as specified in the real estate sales contract.
As the list below indicates, many of the closing costs result from getting your mortgage loan. Since Channel Mortgage LLC has extensive experience with mortgages and closings, we often explain the details of closing costs.
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate is based on our past experience. It's important to note that while our GFEs are very accurate, we cannot always estimate your costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that can change slightly at closing.
Below you'll find a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
TaxesLoan-related costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account
Recording Fees & Transfer Taxes Insurance
Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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.