Closing Costs

"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. Buyers and sellers negotiate to decide how to split these closing costs.

As indicated below, many of the costs result from getting your mortgage loan. At Chris Caggiano - Grand Oaks Funding, LLC, we are highly experienced in mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Very soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always estimate costs to the penny. We answer buyers' questions about these costs every day at Chris Caggiano - Grand Oaks Funding, LLC, so please be sure to ask if you have questions.

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

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Account
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Chris Caggiano - Grand Oaks Funding, LLC can answer questions about these closing costs. Give us a call: (718) 477-4405.

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