Financing in 19103>Question Details

sundeepzaveri, Home Buyer in Philadelphia, PA

Closing Costs question in Philadelphia

Asked by sundeepzaveri, Philadelphia, PA Thu May 17, 2012

Each mortgage company has given me estimates on closing costs. What closing costs are mandatory regardless of which company i go with.

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John Curci's answer below is accurate. The total is basically 5% of the purchase price if you have a mortgage.

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
Frank@CenterCityTeam.com
0 votes Thank Flag Link Mon Sep 17, 2012
Well, there is the Lovley Phila 2% Transfer Tax ( 1% in Bucks County ), Title Insurance Should be a Must, recordeing of the deed in Phila, pro rated Taxes, Home Owners Ins ( if you have a Mtg ), Appraisal ( If you have a Mtg ), Doc Prep Fee (If you have a Mtg), One time open acct fee for tax escrow ( if you have a Mtg )... Hmmm come to think of it.... You have allot for fees so you can pay a Mtg payment for many years to come... go figure + we bailed them out. Geezy Wheezy.

All the best, Keep crossing those T"s + Dotting the I's

John Curci RE/MAX 215-757-2889
0 votes Thank Flag Link Thu May 17, 2012
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