1. Prepaid Costs -
14 months of insurance
2 months of property taxes
per diem loan interest for pro-rated days of incomplete months.
2. Fixed Closing Costs -
Lender's Title Policy
Loan Tie-In Fee
City Transfer Tax (Applies only for Mountain View, Palo Alto, San Jose)
Prorated Property Taxes (based on close of escrow date)
In my opinion it is always best to be represented by a licensed realtor who is knowledgeable and has your best interests in mind, in a purchase transaction with a builder or resale. However, do not let this one feature of the transaction dissuade you from purchasing your new home. Talk to your lender for a specific estimate. Ask him/her to fill in the amount of the costs based on your purchase price, down payment and interest rate, listed above. Best of luck to you.
Blanca Estela Esquivel
County Transfer Tax
Your leder will have certain up front recurring fees for you to pay;
Prepaid Interest for a month
Property Tax could be 6 to 10 months
Home Owners Insurance
Possible Reserves set aside in your savings.
Are you using DR Hortons preferred lender or your own?
A rough estimate for you on a $650,000 purchase with 20% down.
Fixed closing cost $7,300
You can call a Title Company and Your lender to get a better grasp of your actual cost.
You will need to know what your lender is charging. Plus the day you close will affect your prepaid property taxes and amount of interest.