Home Buying in Tustin>Question Details

Binh Nguyen, Home Buyer in Las Vegas, NV

how much is the normal closing cost, normally?

Asked by Binh Nguyen, Las Vegas, NV Sat Feb 2, 2013

This question was asked from this property: http://=www.trulia.com/property/3105588629-1404-Wheaton-Way-Tustin-… target="_blank" rel="nofollow">http://www.trulia.com/property/3105588629-1404-Wheaton-Way-T…

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Hi Bingh, May I suggest asking the seller for 3% closing costs. That should cover it.
0 votes Thank Flag Link Sat Feb 2, 2013
Hello Bingh,

Your closing cost include several indivisual fees. Title, Escrow, Taxes, recording fees, just to name a few.

A good guess amount to be preparred to pay is about 2% of the purchase price. This fee can vary from one escrow company to the next, but the 2% rule is a good place to come up with a dollar amount to prep for.

Kawain Payne, Realtor
0 votes Thank Flag Link Sat Feb 2, 2013
Good morning Binh,
Closing cost is different depending on loan amount, loans $ 417k conforming, $417k to $625,500 super conforming, $625, 500 over Jumbo loans (as you can see loan amounts are diferent due to the size) Now, LTV over 90% in California will required PMI.

The question will be, how much does a lender charge to do my loan?
Ok, any loan amount Kinecta FCU will charge for a purchase $895 (no points) guaranteed closindg date (loan to close in 30 days -.Money-backed up to $895).
On top of that you will get $500 for closing cost, plus .625bps for bette rate or rebate for closing cost, plus VIP membership with all banking benefits!!!!

Please contact me to provide all the above information in writing.

http://www.kinecta.org/lquintero (get your pre-approval)

Libardo Quintero
nmls 380933
0 votes Thank Flag Link Sat Feb 2, 2013
Hi Binh, a good estimate for closing costs is around 2% of the sale price of the home. Thank you for asking. Please check out my website for more information: http://www.Orange-County-Homes-for-Sale.com
0 votes Thank Flag Link Sat Feb 2, 2013
Depends on where you're buying and depends on things like tax rates, local taxes and your local escrow and title fees. Here in Soithern California we tell our buyers to budget about 2% of the purchase price of which some can be put in your loan...

Hope that helps,
0 votes Thank Flag Link Sat Feb 2, 2013
As Joe and Sheryl mentioned, closing costs will vary depending upon the purchase price. To minimize your costs, however, there are a few things you can do:

1. Close at the end of the month rather than at the beginning or middle of the month so your prepaid interest will be minimal.
2. Go with a little higher interest rate so that your lender will give you a rebate to cover most of your closings costs.
3. Compare interest rates and loan costs between lenders. There can we a wide disparity between lenders in both these areas.
4. Ask the seller to pay 3% of your closing costs. Most loan programs allow sellers to pay closing costs of 3% even if you are only contributing 3% yourself as the down payment.
5. Make sure your lender is able to close your purchase within the designated time period of your escrow. Many lenders these days are not able to close in a timely manner. As a result, you could be subject to penalties for each day you exceed your scheduled close of escrow date. This could add unnecessary closing costs and stress to your transaction.
0 votes Thank Flag Link Sat Feb 2, 2013
Typically between 3-5% of the purchase price.
0 votes Thank Flag Link Sat Feb 2, 2013
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