Person question: What were your closing costs??
If you dont mind sharing ;D
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Person question: What were your closing costs??
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Re: Person question: What were your closing costs??
I'm not entirely sure. Hubby wrote all the checks ![]()
We closed in September 2000, and I would take an educated guess and say it ran somewhere between $5K and $7K? I'll ask hubby later and see how off I am.
We just refinanced as well, and we rolled those costs into the mortgage. I think that was like $4-$5K.
We just refinanced as well, and we rolled those costs into the mortgage. I think that was like $4-$5K.
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Re: Person question: What were your closing costs??
we have not closed yet, though hope to by mid July and the estimate closing costs were listed as $14k!!!! Which is more than what we were told going on. Don't know if it will be lower when we actually do the closing and this was just high end speculation....
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Re: Person question: What were your closing costs??
starhead I should have posted that too.
We were told closing costs would be near $10K, but after all was said and done, it was a lot less than we had planned on. Which I remember us complaining about because we could have put that money into the downpayment and cut our mortgage payments ever so slightly!!
We were told closing costs would be near $10K, but after all was said and done, it was a lot less than we had planned on. Which I remember us complaining about because we could have put that money into the downpayment and cut our mortgage payments ever so slightly!!
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Re: Person question: What were your closing costs??
Ours were about $3000, but we got the seller to contribute $3000 in the contract, so it cancelled them out. So, if I am remembering this correctly, all our $$ at closing was for the downpayment. Remember ladies...this is Texas, though.
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Re: Person question: What were your closing costs??
We were told our closing costs would be about $30K.
We ended up paying $21K and getting a $3000 refund check from the bank as well...so about $18K in the end.
Talk about overestimating.
We ended up paying $21K and getting a $3000 refund check from the bank as well...so about $18K in the end.
Talk about overestimating.
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Re: Person question: What were your closing costs??
That's a big difference susan! I believe someone posted that closing costs end up being around 5% of the selling price.
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Re: Person question: What were your closing costs??
Ours ran about 5% as well but it’s hard to gauge by that because some closing fees depend on the selling price and some are fixed costs like the lawyer’s fee, homeowner’s insurance, etc. And then there are some fees that depend on other things entirely, such as reimbursing the seller for prepaid taxes.
We also came in under the estimate. I was so glad because we were able to redo the bathroom last month instead of waiting until the summer.
We also came in under the estimate. I was so glad because we were able to redo the bathroom last month instead of waiting until the summer.
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Re: Person question: What were your closing costs??
My closing costs were $7,500.
Note: Majority of your closing costs are tax deductible, so you'll get a nice check back in 2004.
Note: Majority of your closing costs are tax deductible, so you'll get a nice check back in 2004.
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Re: Person question: What were your closing costs??
Our closing costs were about 10K - 12K...don't know the exact number, but at that point, it's so much, you start losing track of the thousands!!! Pretty scary huh, considering none of that goes towards the principle!!!
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Re: Person question: What were your closing costs??
about 7 thous
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Re: Person question: What were your closing costs??
We were told to estimate 'around' 5% but it actually came in a bit less than that. I think thta 5% is a good number to budget though
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Re: Person question: What were your closing costs??
Wow - 5%??
Anyone care to elaborate on what went into that 5%?
Do you think that % goes down alot as you get to much more expensive properties?
Anyone care to elaborate on what went into that 5%?
Do you think that % goes down alot as you get to much more expensive properties?
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Re: Person question: What were your closing costs??
Ours was 5% of the purchase price as well.
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Re: Person question: What were your closing costs??
You know its so weird closing cost. I don't know much about it. One thing I realized though when we chose our first lender we got an estimate for closing cost that was way above what we got from the builder's preferred lenders. The first people we went to were charging so much more for everthing. They had fees on there that our lender now does not charge for.
I don't know much about closing cost but it seem to me from our experience that it had a lot to do with the actual lender.
The estimate was on the exact same property. When I asked them about the difference I did not get a suffcient answer so that was just another reason to go with the preferred lender.
Our closing cost is about 6k. Our property is mid 200s. My friend just bought a house for high 300s and his closing cost was 20k.
I don't know much about closing cost but it seem to me from our experience that it had a lot to do with the actual lender.
The estimate was on the exact same property. When I asked them about the difference I did not get a suffcient answer so that was just another reason to go with the preferred lender.
Our closing cost is about 6k. Our property is mid 200s. My friend just bought a house for high 300s and his closing cost was 20k.
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Re: Person question: What were your closing costs??
Funny you should ask this.....DH and I are officially in contract on a house- closing date tentatively set for beginning of July. I have my mortgage paperwork here and here is a list of closing costs- exactly where your money goes: Here are the standard market costs:
Mortgage loan costs:
application fee-200
appraisal fee-275
commitment fee-875
loan origination fee-1700
credit report-60
document prep fee-175
underwriting fee-375
We're not paying any of these- we have a special mortgage program through my union...but these are what a lot of lenders require....
Then there's :
settlement charges- bank attorney fee-350-700
title insurance costs300-600
title search-360
contract attorney fee-700-1200
Title insurance-2384 for us
mortgage tax- 2190 for us (3/4% of the loan)
recording fees-180
6 months of real estate taxes in escrow (3000 for us)
and any oil/gas left in the house
I think thats everything....
Closing for us is supposed to be 9,500 including the above.
A lot of mortgage people that we talked to would not give me a detailed listing of closing costs. We got estimates up to 18,000
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I know its a lot of money- but it'll be worth it.
Mortgage loan costs:
application fee-200
appraisal fee-275
commitment fee-875
loan origination fee-1700
credit report-60
document prep fee-175
underwriting fee-375
We're not paying any of these- we have a special mortgage program through my union...but these are what a lot of lenders require....
Then there's :
settlement charges- bank attorney fee-350-700
title insurance costs300-600
title search-360
contract attorney fee-700-1200
Title insurance-2384 for us
mortgage tax- 2190 for us (3/4% of the loan)
recording fees-180
6 months of real estate taxes in escrow (3000 for us)
and any oil/gas left in the house
I think thats everything....
Closing for us is supposed to be 9,500 including the above.
A lot of mortgage people that we talked to would not give me a detailed listing of closing costs. We got estimates up to 18,000
I know its a lot of money- but it'll be worth it.
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Re: Person question: What were your closing costs??
10K
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Re: Person question: What were your closing costs??
I think that the money might go down if you get into the more expensive properties but it's still going to be in that 3-5% range.
In our case it ended up about 3 1/2%
A chunk it, as sam pointed out is title insurance, mortage tax and real estate tax
We had to pay taxes on the house from the day they poured the foundation, even though we weren't even living in it! That's about 8 months of taxes!
And since some of these are %'s of the loan, the more expensive the property, the bigger the tax.
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In our case it ended up about 3 1/2%
A chunk it, as sam pointed out is title insurance, mortage tax and real estate tax
We had to pay taxes on the house from the day they poured the foundation, even though we weren't even living in it! That's about 8 months of taxes!
And since some of these are %'s of the loan, the more expensive the property, the bigger the tax.
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Re: Person question: What were your closing costs??
Yep, confirmed with hubby. We were higher than I thought initially. We ended yup paying close to 3%.
