Home Selling in 16001>Question Details

JAF, Home Seller in 16061

What is the average percentage of closing costs on a 179.900 home?.

Asked by JAF, 16061 Tue Mar 29, 2011

I have no Idea how one figures out the closing cost's,I'd like to put some monies aside to cover them. Someone said on yahoo chat that it was 10 % another person said 8%, i'm confused.

Help the community by answering this question:

Answers

3
You can ask a RE agent in your area to prepare a closing cost estimated work sheet for you especially if you are interested in selling your home soon as part of the interview process for hiring a listing agent. This work sheet will give you a close dollar amount you will need and will help you determine if selling is what you want to do in the near future.
0 votes Thank Flag Link Thu Apr 7, 2011
HELLO JUDITH, I SEE YOU ARE TRYING TO SELL A HOME, IS THIS THE HOME YOU ARE QUESTIONING CLOSING COSTS OR ARE YOU PREPARING TO BUY A HOME TOO?
0 votes Thank Flag Link Thu Apr 7, 2011
Your closing cost will usually run between 3% and 5% of your loan amount; For example if you borrow $100,000 your closing costs may run $3,000 to $5,000. Your Down Payment would be in addition to your closing cost and will vary by your loan approval. There are Down Payment Assistance Programs available for some borrowers.

You should request a Good Faith Estimate (GFE) from 2 or 3 lenders. A GFE will usually include many of the fees listed below:

Loan origination fee (1% or more of loan amount)
Loan discount fee
Hazard insurance premiums
Property taxesLoan application fee
Attorney fees
Appraisal fee
Credit Report
Wire Transfer fee
Pre-Pays -
Interest from the day of settlement to the date of the first mortgage payment
Tax search fee/Tax Stamps
Loan Processing fee
Underwriting feePrivate mortgage insurance premiums
Document prep
Title search/insurance
Recording fees
Escrow (Taxes, Insurance)
0 votes Thank Flag Link Tue Mar 29, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer