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