jhkogger, Home Buyer in Rochester Hills, MI

how much are closing costs if the loan amount is 180k purchase price 225k?

Asked by jhkogger, Rochester Hills, MI Wed Feb 13, 2013

Help the community by answering this question:


It would depend on taxes, the type of loan and down payment. These are some of the things that determine closing costs. There is a closing fee, recording fee, title insurance fees, setting up you escrow account for future taxes and insurance payments, appraisal fee and homeowners plus any additional fees a lender may charge.

You should contact a local lender and/or a buyers agent who can recommend an agent. They can best answer you questions.

If you would like the assistance of a buyers agent I would be happy to assist you.

Good Luck,

Karen Paytas
Real Living Kee Realty
0 votes Thank Flag Link Wed Feb 13, 2013

There are a lot of variables in your questions. You need 2 things, A good Loan officer & a good buyers agent. A good loan officer will explain different types of loans available & the costs involved.
A big portion of the closing costs are taxes. That will vary with the house & location of the home.
A good Buyers agent will explain the home buying process & help you every step of the way.
I do buyers, no obligation consultations. so do alot of other agents. Find one you can work with & trust.
0 votes Thank Flag Link Wed Feb 13, 2013
Sounds like you need a good Realtor and one that will field lender questions. Glad to be of service,
give me a call 586-246-3421. Lauren Quigley. Or do you have a Realtor?
0 votes Thank Flag Link Wed Feb 13, 2013

You left to many facts OUT of the question to answer it correctly. What are the taxes on the home,? Are you buying down the rate? Did you ask for and receive concessions?

These are questions that your lender can estimate more accurately than we can out here. You should contact your lender for these answers.

Good Luck,

(248) 379-6547
0 votes Thank Flag Link Wed Feb 13, 2013
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