I purchased a new construction from a builder, but I am using an outside mortgage lender. How much in (%) closing costs should I expect to pay?

Asked by K. Anderson, Las Vegas, NV Tue Jul 16, 2013

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Elly Gramati…, Agent, Henderson, NV
Fri Aug 9, 2013
Expect to pay about 3 to 4 % of the total purchase price in closing costs.
0 votes
Robert Adams, Agent, Henderson, NV
Mon Aug 5, 2013
Did you have the builder's lender run your scenario?

They often times will give you incentives to use their lender. for example they may pay your closing costs, give credits for upgrades, etc.

If you still need help with this please call or email me and I can walk you thru the process and put you in touch with a good lender.

Best Regards,
Robert Adams
The Adams Team at Rothwell Gornt Companies
702.349.9175 Direct Cel
0 votes
, ,
Mon Aug 5, 2013
Sounds like you do not have a very good mortgage broker. We can certainly help you out. You can check us out at http://www.TheMortgageOutlet.com and give us a call. One of our loan officers will look at your situation and present you with some options.
0 votes
Robert Adams, Agent, Henderson, NV
Fri Jul 19, 2013
It is not a fixed % of sales price. You should be able to ask for an estimated hud1 which will show you an estimate of all the closing costs. Your afent should be able to get this for you.

Best Regards, Robert Adams Broker/Salesman The Adams Team at Rothwell Gornt Companies 702.349.9175 RobertAdams@LVrealestateHELP.com http://www.LVrealestateHELP.com
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, ,
Wed Jul 17, 2013
If they have not given you proper disclosure, I would think very carefully whether or not this is "your best option". If you want fast, honest results from a 20+ year veteran in the field, click the link below and call me today. I will be more than happy to let you know your situation up-front, and that way you can make a more educated decision on how to move forward on your path to home ownership. I look forward to speaking with you.


Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes
Kurt Grosse, Agent, Las Vegas, NV
Wed Jul 17, 2013
It is VERY rare that the builder's lender isn't your best option. Get Good Faith Estimates from both on the same day to compare apples to apples.
To answer your question, my Rule of Thumb is safe at 3%.
0 votes
David Cooper, Agent, Los Angeles, CA
Tue Jul 16, 2013
Why are you using an outside lender. Everytime I buy new, using the builder's preferred lender gets me additional upgrades on the home purchase. Have you checked this out

David Cooper Since 1994, helping you buy your first home or the perfect investment
0 votes
dawn lane, Agent, Las Vegas, NV
Tue Jul 16, 2013
Well you should have been given an estimated costs sheet when. You entered into the agreement . It all depends on the type of loan and what you a reed to .Typically closing costs can range anywhere from 1-3 % of the purchase price . But again look at what you signed first .
0 votes
, ,
Tue Jul 16, 2013
K. Anderson:

I am a local Lender here in Las Vegas...

There are a lot of factors that adds up to the closing costs. Some of which are your loan amount, Lender fees and origination, Title and escrow fees.

If you need more information, please give me a call and I may be able to assist you further.

Eugene Prospero
Mortgage Consultant
0 votes
Brian Mercado, Agent, Las Vegas, NV
Tue Jul 16, 2013
Hi K, to answer your question, it really depends on the bank or financial institution you are using to do your loan, but typically it's about 2.5% to 3% of the purchase price. The very 1st thing you should do, is ask your lender for a GFE (good faith estimate) which will show you a break down of the fees and a rough estimate of the amount that you will need to close, including your down payment. Hope this helps and good luck!
0 votes
Thank you, that is helpful. Is it normal that the builder charges you separate fees/costs even though you are not going through them for the mortgage loan?
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