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Rachael Koger, Home Buyer in Altoona, WI

What are the approximate costs of closing on home near Eau Claire, WI?

Asked by Rachael Koger, Altoona, WI Wed Jan 1, 2014

Property would be approximately $160,000. I'm trying to find a blance between amount for down payment vs saving for closing costs

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7
Good Morning Rachael,

I think 1% is a good estimate but I suggest you start a dialog with a lender to help you prepare.
1 vote Thank Flag Link Thu Jan 2, 2014
Rachael,

Eric is right on target for the closing costs in the Eau Claire area. I usually use 1.5% of the purchase price. Its is always important to hear from the Realtors in your part of the country. Call me 715.833.1152 if you would like to meet and start looking for your next home.
1 vote Thank Flag Link Thu Jan 2, 2014
Planning is the best path to a successful purchase.
Flag Thu Jan 2, 2014
Thanks Dave. I don't plan to start looking until spring but I like to be well informed and planned for what is to come
Flag Thu Jan 2, 2014
I disagree with Eric -- closing costs can vary greatly, depending on the loan costs, title costs, the property taxes, any HOA transfer fees, etc. AND...keep in mind you can often negotiate to get the SELLER to pay for your closing costs. You may need to offer a higher purchase price though. Your REALTOR should be able to guide you through the entire home buying process, as well as refer you to a good lender. The lender needs to provide you a Good Faith Estimate (GFE) which will outline all of your closing costs.
1 vote Thank Flag Link Wed Jan 1, 2014
Any good real estate agent can give you an idea of what your costs will be but you really need to find a Lender to get an actual estimate. A good real estate agent will be able to give you referrals for competitive, high octane lenders who are able to get you the best rates and lowest costs. Keep in mind, you should not expect to pay for a consultation (unless you are having your credit run and in which case the lender may charge a credit check fee) and can even shop around with a couple of lenders to find someone that you really want to work with. Good luck!
1 vote Thank Flag Link Wed Jan 1, 2014
It varies depending on lender but around $1500 is a good safe average.
1 vote Thank Flag Link Wed Jan 1, 2014
thanks Eric, I really had no idea if it was going to be A thousand or 5 thousand
Flag Wed Jan 1, 2014
Give Me A Call, I Can Give You An Estimat. 7155792746. Julie Brown, Realtor Woods And Water Realty Eau Claire Wi
1 vote Thank Flag Link Wed Jan 1, 2014
1st meet with your lender and request a GFE - good faith estimate. Then meet with your realtor and have them produce a mock closing statement utilizing all criteria you may put into an offer. This can be a daunting task if you are not bringing accurate info. to the agent. The estimate of closing costs can vary depending upon which scenario you use, but a great agent will be able to lead you down the road to success with very accurate numbers and a plan. You appear to be very thorough and this will make buying a home a great experience for both you and your agent. Get accurate answers - you will be able to determine that by the thoroughness of your lender and agent.
0 votes Thank Flag Link Sat Jan 11, 2014
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