Don't Forget Closing Costs

All residential real estate transactions involves costs. Sellers and buyers almost always share these costs, as the real estate sales contract specifies.

As the list below indicates, many of the closing costs result from getting your loan. Since Channel Mortgage LLC has extensive experience with closings & mortgages, we can help you understand your closing costs.

Loan Estimate (Also known as the LE)

Soon after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at closing.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Channel Mortgage LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Channel Mortgage LLC can answer questions about these closing costs. Give us a call: 7186399500.

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Channel Mortgage LLC

Connecting the Dots to Home Ownership

55-25 69th Street 1st Floor
Maspeth, NY 11378-1806