Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Sellers and buyers negotiate to determine who will pay different portions of these closing costs.

As indicated below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At Channel Mortgage LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you submit your application, we will provide you with the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Channel Mortgage LLC's experience with mortgage loans, but costs often vary a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.

Below is a fairly general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

Channel Mortgage LLC can help you understand closing costs. Give us a call at 7186399500.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question

Channel Mortgage LLC

Connecting the Dots to Home Ownership

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