how much is a closing cost?

Asked by Rijozahira, New York, NY Wed Jan 22, 2014

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Kimberly Law…, Mortgage Broker Or Lender, Fairfield, OH
Thu Jan 23, 2014
If you're paying cash, your costs can be minimal (title fees only). If you're going to "try" to find financing on the property you provided the link for ($14,000) -- it will be difficult to impossible (unless you can find a retail bank who is offering a fixed or variable equity line of credit). That's unless too you're interested in an FHA 203k loan (borrow purchase price + rehab costs to 96.5%). Even then, depending on the after repair value of the home and the amount of repairs you'd want to put into it, it may not reach at minimum $50-$60k (even then loans are tight thanks to the new Dodd-Frank rules which limit the costs on a loan..). If I can help answer any add'l questions, I'd be happy to help. Best wishes otherwise, Kimberly Lawson, Licensed Mortgage Loan Originator - Ohio only. Contact and licensing information can be found on my profile.
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Danielle Kel…, Agent, Brecksville, OH
Wed Jan 22, 2014
Closing costs vary depending on what your lender and Title Company charge, You can ask the seller for concessions to help with your closing costs though
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Kevin Davey…, Agent, Avon, OH
Wed Jan 22, 2014
Closing costs can vary. Generally you should expect closing costs to be anywhere from 2 - 4% of the purchase price of the home. Could be higher depending upon the lender and title company.
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