As you search for a new home, it's always a good idea to factor in the closing costs so you can properly plan and manage your finances. In general, you can expect to pay 2-5% of the purchase price in closing costs, not including the down payment.
Closing costs can include the following:
- Down Payments
0-20% of the purchase price depending on your qualifications and loan choice
- Earnest Money Deposit
The money put down when a contract is written - it usually goes into an escrow account
- Lender Fees
Includes charges for loan processing, underwriting and preparation
- Third-party Fees
Includes charges for insurance, title insurance, title search, appraisal fees and other inspections
- Government Fees
Includes deed recording and state mortgage taxes
- Escrow & Interest Fees
Include homeowner's insurance, loan interest, real estate taxes, home warranties and prepaid interest
- Property Taxes
Capital tax based on the estimated value of the property
Curious and want to know more???
Call me today directly at (512) 294-4117 to see if I can help you SAVE MONEY on your home purchase! Let's see if you qualify for programs that reduce your down payment or get you in a home for ZERO DOWN!
I look forward to assisting you when you are ready to take the next step!