Im so pissed we finally found a CONDO in Park slope that we love. We have come to find out that the closing costs are drum roll please..........................26,000 WHAT?????????????? Is this the same in a house. Its back to the drawing board. Im so upset
gabbie83
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hmmmmm not sure but our closing costs are estimated to be around 16,000
What
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Park SLope is a pretty expensive neighborhood, so I wouldn't be surprised..
TnOiOnL
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isnt it horrible Our closing costs were ALOT more than that if it makes you feel any better friggin BS!
I have heard some people with cheaper closing costs, so it is possible... but its alot of $$$ no matter what
dimples092907
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I thought the neighborhood shouldn't matter how much it costs. It's the bank or mortgage broker you deal with. FM me if you need a mortgage processor, not a broker, no extra fees. We used my sister and her bank (Chase) only charged us $12,000.
What
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Posted by dimples092907
I thought the neighborhood shouldn't matter how much it costs. It's the bank or mortgage broker you deal with. FM me if you need a mortgage processor, not a broker, no extra fees. We used my sister and her bank (Chase) only charged us $12,000.
ooooh... see, proof that I'm NOT a homeowner.
DNicholes
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We paid around 14,000
staceylacey
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Yes thats what I though around 12 or so but 26 for a freekin 680 Square Foot Condo what the???????????
gabbie83
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Posted by staceylacey
Yes thats what I though around 12 or so but 26 for a freekin 680 Square Foot Condo what the???????????
i thought it was based on the mortgage amount?
acsm
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they say to estimate about 5% of the price of the home..
i hope that is wrong when its our turn to buy because thats a lot of $$$!!!
donegal419
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Posted by staceylacey
Yes thats what I though around 12 or so but 26 for a freekin 680 Square Foot Condo what the???????????
i don't know what your mortgage is, but that just doesn't sound right. that's more than some out down as a down payment!!
can you go with a credit union? their closing costs are usually much lower. or i would see if you can find yourself a broker that will find you a bank that won't kill you with these fees.
CD516
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I do this for a living. Its becuase of the mortgage tax in the boroughs. Out here on long island it is roughly .8 of 1% of your loan amount. In the boroughs it is roughly 1.875% of your loan amount ( double). It also depends greatly on your loan amount. The higher amount you borrow, the higher the closing costs. HTH
bonniejd
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is it new construction? That will also nearly double your closing costs because you pay a lot of the taxes that a seller normally pays.
