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