Your Closing Costs

"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Buyers & sellers usually negotiate the payment of these costs.

As the list below indicates, many of the costs result from getting your mortgage loan. Since Channel Mortgage LLC has extensive experience with closings and mortgages, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.

Below is a fairly generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Channel Mortgage LLC can help you understand closing costs. Give us a call: (718) 639-9500.

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