Don't Forget Closing Costs

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers and sellers negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's costs cover the costs of originating the loan. Since Omni Mortgage Corp. is highly experienced with closings and mortgages, we often explain the details of closing costs.

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. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. We go over LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, 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
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Omni Mortgage Corp. can answer questions about these closing costs. Give us a call at 7184417000.

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Omni Mortgage Corp.

118-18 101st Avenue
Richmond Hill, NY 11419