Closing Costs

Every home sale involves costs. Sellers and buyers usually split these closing costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of originating the loan. Since Chris Caggiano - Grand Oaks Funding, LLC is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We explain LEs with buyers every day, so we will be happy to answer any questions you have about closing costs.

Below you'll find a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

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

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