About Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Buyers & sellers negotiate the payment of these costs.

As the list below indicates, many of the costs result from getting your loan. Since Channel Mortgage LLC is highly experienced with closings and mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at closing.

Below is a generic 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

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

Channel Mortgage LLC can help you understand 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