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98055 : Real Estate Advice

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Activity 4
Wed Dec 10, 2014
Laurosa Falepau asked:
hello,
I wanted to bring to your attention a false listing for property 22842 SE 268th Pl, Maple Valley WA. The contact number listed for this property is for someone that lives in Louisiana…
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Wed Jun 30, 2010
Cyndi Carver answered:
Closing costs are set fees that usually are third party fees, i.e. title insurance, escrow, credit report, appraisal, etc. Around $5,500 is normal. That would not include a loan origination fee, which is usually a percentage of the loan amount (normal is 1%) and discounts. Discounts points are charged when you want a lower interest rate than the lender's quoted rate. Taxes and insurance are considered prepaids since taxes are due in April and October and the insurance premium is paid annually. The lender collects these amounts on a monthly basis so it is easier on you for budgeting purposes so that when the time comes for these items to be paid, there would be funds in your escrow account for them to pay it for you. ... more
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