Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Buyers and sellers often negotiate to decide how to share these closing costs.

Many of the costs associated with buying residential real estate are associated with getting the loan. Since Omni Mortgage Corp. is highly experienced with mortgages & closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

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

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Omni Mortgage Corp. can help you understand closing costs. Call us: 7184417000.

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Omni Mortgage Corp.

118-18 101st Avenue
Richmond Hill, NY 11419