Closing Costs

Certain standard costs are related to closing the sale of a home. Buyers and sellers almost always share these closing costs, as the real estate sales contract specifies.

Many of the costs associated with buying a home are associated with getting a mortgage. At Omni Mortgage Corp., we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We field questions about closing costs every day at Omni Mortgage Corp., so please be sure to ask if you have questions.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your application. At Omni Mortgage Corp., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

Omni Mortgage Corp. can help you understand closing costs. Call us at 718-441-7000.

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