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ChiefMT
LIF Adult
Member since 9/08 1440 total posts
Name:
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Closing Costs
If you recently bought a home, how much were your closing costs? I hear anywhere from 3%-8% but I'd like to get a rough idea of what that looks like.
TIA
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Posted 3/18/09 9:58 PM  |
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marknla
LIF Zygote
Member since 12/08 2 total posts
Name:
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Re: Closing Costs
About 5 % of the amount you are financing.
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| Posted 3/18/09 10:01 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Closing Costs
Ours were closer to 3%. We closed in June '08.
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| Posted 3/19/09 9:57 AM |
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Megs4
LIF Adult
Member since 11/08 1619 total posts
Name:
Megan
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Re: Closing Costs
Ours wound up being 5% - including homeowner's insurance and our attorney's fee.
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| Posted 3/19/09 10:21 AM |
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ChiefMT
LIF Adult
Member since 9/08 1440 total posts
Name:
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Re: Closing Costs
Thanks everyone! What is the best way to cut some corners with these costs? Are certain things cheaper to do than others?
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| Posted 3/22/09 11:01 AM |
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Re: Closing Costs
Posted by ChiefMT
Thanks everyone! What is the best way to cut some corners with these costs? Are certain things cheaper to do than others?
I'm not sure. The variables that I'm aware of are not really things you can control (things like the amount of property taxes and what point in the year it is when you buy, homeowners insurance, etc.)
Message edited 3/22/2009 11:24:05 AM.
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| Posted 3/22/09 11:23 AM |
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SnickNNick
In our new house!!
Member since 8/08 2119 total posts
Name:
Nicole
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Re: Closing Costs
Posted by ChiefMT
Thanks everyone! What is the best way to cut some corners with these costs? Are certain things cheaper to do than others?
I really don't think you can. The majority of it is a few months of your property taxes and homeowner's insurance...at least for us that's the biggest amount. the other things are like attorney costs, so I guess if you can find a cheaper attorney but that's not going to save you much. The bulk of it is the pre-paying of taxes and insurance.
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| Posted 3/22/09 12:15 PM |
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Ian&EmmesMommy23
My family is complete!
Member since 11/08 12970 total posts
Name:
Diana
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Re: Closing Costs
3%
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| Posted 3/24/09 2:34 PM |
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Megs4
LIF Adult
Member since 11/08 1619 total posts
Name:
Megan
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Re: Closing Costs
Posted by ChiefMT
Thanks everyone! What is the best way to cut some corners with these costs? Are certain things cheaper to do than others?
You can shop around for banks with fewer or lower fees, and like previous posters suggested, attorneys or insurance that have lower fees or premiums, but that's about it.
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| Posted 3/24/09 4:18 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Closing Costs
Posted by ChiefMT
Thanks everyone! What is the best way to cut some corners with these costs? Are certain things cheaper to do than others?
Our mortgage broker was a family member so we had fees taken out. We did end up giving him a nice chunk of change though, but still less than what we would have been charged. Our attorney was a family friend and reduced his fee for us. Otherwise, there's really no place to cut corners.
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| Posted 3/24/09 4:50 PM |
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