Don't Forget Closing Costs

There are certain standard costs related to closing the sale of a house. Buyers and sellers usually split these costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since Omni Mortgage Corp. is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimate (Also known as the LE)

Very shortly after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on Omni Mortgage Corp.'s experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We go over LEs with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed 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
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Omni Mortgage Corp. can answer questions about these closing costs. Give us a call at 718-441-7000.

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