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peanutbutter2
Carpe diem!
Member since 11/10 5287 total posts
Name:
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How much were your closing costs?
DH and I were discussing ours last night, and we both remembered radically different numbers....so I'm thinking our closing costs are long forgotten.
We're pretty much sold on saving up and moving as soon as we can, so we're trying to run some figures.
ETA: I like to plan way in advance so there are no surprises!
Message edited 9/4/2012 2:12:54 PM.
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Posted 9/4/12 2:08 PM  |
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Prudential Douglas Elliman Real Estate
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: How much were your closing costs?
hmmm 15k ish?
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| Posted 9/4/12 2:38 PM |
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EMC11709
LIF Toddler
Member since 3/10 484 total posts
Name:
Erica
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Re: How much were your closing costs?
Posted by evrythng4areason
hmmm 15k ish?
Same here
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| Posted 9/4/12 3:15 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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How much were your closing costs?
Everyones closing cost are different.
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| Posted 9/4/12 3:17 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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How much were your closing costs?
The big $$$$ closing costs are pretty much all fixed amounts, based on the property taxes on the house and other government fees/taxes. There are some bank closing costs involved, but those are pretty minimal compared to the taxes. Our closing costs were about $17K, and our bank waived all of their fees (appraisal, application fee, etc.)
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| Posted 9/4/12 3:35 PM |
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peanutbutter2
Carpe diem!
Member since 11/10 5287 total posts
Name:
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Re: How much were your closing costs?
Posted by alli3131
Everyones closing cost are different.
I know--- I guess I should've phrased it as "what percent." My bad....a bit sluggish and sleepy over here today lol
Message edited 9/4/2012 3:42:48 PM.
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| Posted 9/4/12 3:40 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: How much were your closing costs?
Posted by JAAMS
Posted by alli3131
Everyones closing cost are different.
I know--- I guess I should've phrased it as "what percent." My bad....a bit sluggish and sleepy over here today lol
About 4-5% of the purchase price
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| Posted 9/4/12 5:18 PM |
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Re: How much were your closing costs?
I always tell people 4% to 6%, depending on various factors (the lender, what time of month you close, the type of loan you are getting, etc.). I think you want to plan on 6% as a worst case scenario.
If you don't want to lay out your closing costs in cash, you can always roll them into your mortgage loan via a seller's concession. With an FHA loan, you can roll in up to 6% of the purchase price, and with a conventional loan, you can do 6% if you put at least 10% down (3% if you put down less than 10% of the purchase price).
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| Posted 9/4/12 6:48 PM |
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peanutbutter2
Carpe diem!
Member since 11/10 5287 total posts
Name:
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Re: How much were your closing costs?
Posted by Century 21 Dallow - Christine Braun
I always tell people 4% to 6%, depending on various factors (the lender, what time of month you close, the type of loan you are getting, etc.). I think you want to plan on 6% as a worst case scenario.
If you don't want to lay out your closing costs in cash, you can always roll them into your mortgage loan via a seller's concession. With an FHA loan, you can roll in up to 6% of the purchase price, and with a conventional loan, you can do 6% if you put at least 10% down (3% if you put down less than 10% of the purchase price).
Thank you-that was very helpful!
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| Posted 9/4/12 7:09 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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How much were your closing costs?
6% - we did a seller's concession
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| Posted 9/4/12 8:38 PM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Re: How much were your closing costs?
About 5% of our purchase price.
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| Posted 9/4/12 8:50 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: How much were your closing costs?
Back in 09, my figure turned out to be about 3% of the price of our home.
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| Posted 9/4/12 10:19 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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How much were your closing costs?
About 5%, but we did a seller's concession so half the costs were rolled into the loan.
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| Posted 9/5/12 10:09 AM |
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