Closing Costs: How to Avoid a Last-Minute Surprise
Closing costs are a standard part of every home purchase, but a good real estate agent can help you avoid any unpleasant surprises
Don’t let the term “closing costs” mislead you. You’d do well to think about them before you start house-hunting, not after you’ve made an offer on your dream home. There’s one good reason for this: You might have wiped out your savings with the down payment, leaving you with no cash to pay the long list of fees associated with securing your loan. Depending on your lender, closing costs can include fees for the loan application, costs of document preparation or appraisal, a credit report, wire transfers, a title search, title insurance, a property survey, municipal fees, tax stamps and many other charges, and they add up quickly. Closing costs on a $200,000 house in Bankrate.com’s annual national survey averaged $3,741 in 2011, with New …
fredrickcruz
1:10 am on Tuesday, January 10, 2012
The first step in determining the worth of a conventional mortgage refinance is to estimate the property value and the borrowers' equity in the home, use the 123 Refinance to qualify for refinance more ›