Certain standard costs are associated with closing the sale of a house. Sellers and buyers customarily split these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying a house are associated with getting the mortgage. Since Channel Mortgage LLC is highly experienced with closings & mortgages, we are closing cost experts.
Soon after you submit your application, we'll provide you with the "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at closing.
Below is a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
Appraisal Costs Getting Your Credit Report Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional)
Transfer Taxes & Recording Fees Insurance
Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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