Home Buying in Omaha>Question Details

Felix, Both Buyer and Seller in 68123

What type of costs do the buyer have to pay when closing on a house?

Asked by Felix, 68123 Thu Apr 11, 2013

If I am going to buy a house in Omaha with a conventional 30yrs fixed loan, what does the buyer have to pay at closing beside the down payment?

Help the community by answering this question:

Answers

9
BEST ANSWER
Felix,

Congratulations on taking the steps to purchase a home!! You must be very excited.
Every situation is a little different in regards to the closing cost but some of these costs may include:

Loan Origination Fee
Appraisal Fee
Credit Report
Recording Fee
Wood Infestation Inspection Fee
Plot Plan/Survey
Title Insurance
Home Protection Plan/Inspection Fee
Escrow Closing Fee
Professional Services Fee
Broker Compensation
Lender Fees (commitment, closing, etc.)
Loan Discount Points
Homeowners Insurance, First Year
MIP/PMI/VA Funding Fee, First Year
Tax Proration
Interest Proration
Homeowners Insurance Escrow
MIP/PMI Escrow
Tax Escrow
Earnest Deposit
Loan Application Fee

I know this is a long list and a little overwhelming. However, many of these fees may not apply in every situation. In total closing costs are about 3.5% of the purchase price. It is also common for buyers to ask the sellers to cover some or all of these costs as part of the purchase.

Our team can sit down with you to answer any questions you have, in depth, regarding closing costs or any step of the purchasing process.

-Kyle Schulze
The Tabai & Schulze Team
NP Dodge Real Estate
402-699-2220
KSchulze@npdodge.com
0 votes Thank Flag Link Thu Apr 11, 2013
Thank you all. I have the information that I need for now.
1 vote Thank Flag Link Fri Apr 12, 2013
I can't speak for another agents but I give my buyers and sellers a cost sheet. It breaks all the closing cost that will accrue. It depends on down payment, seller assist, and price of the property. This is an estimated cost sheet. It's a good ball park figure.
0 votes Thank Flag Link Tue Apr 16, 2013
When you negotiate with your seller, see if you can get him to pay at least part of your closing costs. It doesn't hurt to try. Mine put in a set cash amount, and others may pay a percentage. I ended up only paying about half out of my pocket.
0 votes Thank Flag Link Tue Apr 16, 2013
If you are considering a new home in Omaha, Celebrity Homes has 4 preferred lenders that could help you. http://celebrityhomesomaha.com/financing.html They pay your closing costs for you & the first year of homeowners insurance as well. I can prepare an estimate for you if you have time to stop by.

If you would like to visit our model homes, please stop out to 6016 S 191st Terrace (corner of 192 & Y Street) I have 3 models here you can tour. I have represented Celebrity for over 15 years. http://www.TucsonDLX.com
I would love to help you find the perfet new home to fit your needs.
0 votes Thank Flag Link Fri Apr 12, 2013
Felix,

With the top agents you have on this site, you can buy a home and get in for only the required down payment. Depending on home location, your credit score, and whether you are a veteran or not, you could get into a home with anything from no money down and no money out of pocket to 5% down and no other costs. If you want to discuss this further, feel free to contact me.


Dennis W Clark
NMLS#13970
Freedom Lending, LLC
Omaha, NE
402-333-5432
dennis@mortgageloansofamerica.com
0 votes Thank Flag Link Fri Apr 12, 2013
An agent can work up an Estimated Buyer's Net Sheet before you buy any home. This will delineate all of the costs associated with buying a home at any given price, and will provide you with the amount of your monthly house payment including insurance and taxes. The "Net Sheet" can be worked up using different factors such a price, amount of down payment, potential seller-paid closing costs, and so on. It's very helpful to see it on paper. Felix, asking questions such as these will help you make an informed decision. I would be happy to sit down with you and go over the details of buying a home. Feel free to contact me.

All the Best,

Lisa Andrews - Realtor
CBSHome Real Estate
402-490-0995
lisa.andrews@cbshome.com
0 votes Thank Flag Link Fri Apr 12, 2013
There will be Title insurance, underwriting fees. an appraisal, the the proration of property taxes that will need to be paid. Also there will be a termite inspection along with a home inspection if that is the route that you choose. In some cases, if you have a good Realtor, the buyers portion of the closing costs can be assumed by the seller if it is written in the contract. All of the houses that I sold where I was representing the buyer, I usually had the seller pay for the majority if not all of the closing costs.
0 votes Thank Flag Link Fri Apr 12, 2013
Best place to start is to hire an Exclusive Buyer Agent to represent you. EBAs represent home buyers only, and work to get you the best price and most favorable terms. You can go to NAEBA.org for a referral to an EBA in your area. If an EBA is not available in your area, find an agent who specializes in buyers, and one who is a full-time career agent.

There is a book on Amazon called a"Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best $6 you've ever spent.
0 votes Thank Flag Link Thu Apr 11, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer