Home Buying in 32927>Question Details

Faith, Home Buyer in 32927

how much is closing costs on $51000.?

Asked by Faith, 32927 Wed Dec 8, 2010

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faith on average closing costs average 3% of your loan amount, it can differ depending on how many points you may be paying with your loan or if your mortgage company is requiring escrows. You can simply ask your loan officer for a good faith estimate of your closing costs.

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0 votes Thank Flag Link Wed Dec 8, 2010
Hi Faith
That's a great question and actually pretty easy to get a direct answer to if you give the correct information. So here are a few things to consider.
Is the home a short sale or foreclosure? - because fees with these homes can vary depending on the willingness of the Sellers Lender to pay costs.
Are you purchasing with cash or are you obtaining a mortgage?
If cash, you're only fees would be Title closing fee, (which generally ranges (in this area) between $150 - $300.00) recording the Deed $10.50, and prorated taxes and any homeowner/condo association fees.
If you are obtaining a loan, then the Lender will have fees and you are able to get an estimate prior to putting an offer on a property.
Hope this helps.
0 votes Thank Flag Link Wed Dec 8, 2010
Contact your Buyer's Agent about this matter. With an FHA loan, your Buyer's Agent can write a purchase agreement with Sellers paying 6% of the purchase price toward your closing costs.
0 votes Thank Flag Link Wed Dec 8, 2010
Who knows?

Ask your lender or title company to make you a net sheet with your details. Look up buyers or sellers real estate closing costs on trulia or. Google.

We have it on our main home page too.

Sunny Isles Beach Real Estate and Information ~ http://www.sibre.info ~ send us an email if you have issues.
0 votes Thank Flag Link Wed Dec 8, 2010
Good Afternoon Faith;
If a cash transaction, hardly anything.
If a finance transaction, your lender can provide you with a good faith estimate (GFE); and your closing costs will vary depending on your finance terms.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Wed Dec 8, 2010
Who knows?

Ask your lender or title company to make you a net sheet with your details. Look up buyers or sellers real estate closing costs on trulia or. Google.

We have it on our main home page too.

Sunny Isles Beach Real Estate and Information ~ http://www.sibre.info ~ send us an email if you have issues.
0 votes Thank Flag Link Wed Dec 8, 2010
For a good picture of closing costs, consider asking your loan officer for a good faith estimate.
0 votes Thank Flag Link Wed Dec 8, 2010
It depends on many factors, like the title company's fees and your loan originator fees and even your rate. But in general you should expect totally settlement costs to be between $3500 and $4500

Andrew and Elena Ollick
Amerivest Realty
239-206-4500
eo@oceanhomesrealty.com
Latest Post: Housing Has Finally Hit the Bottom
http://www.andrewollick.com/realestateblog
0 votes Thank Flag Link Wed Dec 8, 2010
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