So, FH and I are about to go into contract on our first house, and we are just curious what we should expect our closing costs to be. Our lender estimated $15,000!!! Does that seem accurate?
lilqtpie2181
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Re: Closing costs?!?!?!?
it depends on the cost of the house but yeah 15k seems about right,generally speaking...mine were a littlle over 18k
EJSD2006
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Re: Closing costs?!?!?!?
that's about right with todays home prices. its usually estimated at about 3%-6% of the agreed on sale price.
N.Y.bride
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Re: Closing costs?!?!?!?
Oh My God!
What exactly does that go towards?? Do you count that s the money we are putting down??
Meaghan729
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Re: Closing costs?!?!?!?
Posted by N.Y.bride
Oh My God!
What exactly does that go towards?? Do you count that s the money we are putting down??
nope, thats just closing costs
its usually 6 months of taxes (in escrow), two or so months of insurance (after you prepaid a year), title fees, survey fees, attorney fees, mortgage recording tax.
eta: our house was $372,500 and our closing costs were $18,500.
csorisi
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Re: Closing costs?!?!?!?
Your closing costs could be less if you do not do escrows with the bank. $15,000 still is about right though and it is always good to overestimate then underestimate to ensure that you have enough money to close.
dbleplay17
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yea unfortunely sounds about right
Stinks HUH!?
bethnsul2000
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Re: Closing costs?!?!?!?
Yeah sounds right...my 1 bedroom condo...our closing was 9,000...but when you do your taxes it helps...I am getting a lot back this year...
