Your Closing Costs

"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. Buyers & sellers often negotiate to determine who will pay different portions of these costs.

As the list below indicates, many of the closing costs result from getting your mortgage. Since Chris Caggiano - Grand Oaks Funding, LLC has extensive experience with closings & mortgages, we are closing cost experts.

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our GFEs are very accurate, we cannot always estimate your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can change slightly at the closing table.

Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

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

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

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