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MrsMick
Baby #2 debuts in March 2016!
Member since 9/09 1977 total posts
Name:
Michele
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Closing Costs? UPDATE
Hi All. If you don't mind me asking, if you closed on a house within the last couple of years, what were your closing costs? If they were somewhat high, did you negotiate them? If so, how? Thanks in advance!
SO we finally closed yesterday. Closing costs were a lot cheaper than we thought! Only about 8K! We escrowed our taxes and most of the costs were title and taxes. I don't know if it had to do with the month and time we closed? I heard that affects the costs as well. Who knows. But it was definitely a nice surprise to actually close about 4K less than the bank predicted.
Message edited 3/29/2012 9:30:21 PM.
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Posted 3/25/12 10:13 AM  |
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: Closing Costs?
We closed less than a month ago, and paid 14 and change
We shopped around for the surveyor and lawyer
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| Posted 3/25/12 10:37 AM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Closing Costs?
The closing cost are based on the cost of the house. Not sure if you can even get them down.
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| Posted 3/25/12 2:03 PM |
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timefortwo
LIF Infant
Member since 10/11 321 total posts
Name:
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Re: Closing Costs?
about 3.5-4% of total purchase price of home
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| Posted 3/25/12 2:09 PM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Closing Costs?
About $19K. It was either a little over, or a little under, but I can't remember exactly. We bought almost 3 yrs ago.
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| Posted 3/25/12 3:39 PM |
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: Closing Costs?
Posted by timefortwo
about 3.5-4% of total purchase price of home
ours were a bit more than this..the estimate we received at the time of contract was even higher...about 6%
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| Posted 3/25/12 8:21 PM |
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Re: Closing Costs?
A lot of the closing costs are not actually bank fees, but prepayment of taxes. So for that reason, you are not usually going to find a wide disparaity in closing costs from one lender to another.
I know that sometimes there is a bit of negotiability there on the fees -- most mortgage lenders want the business -- but it's usually not a significant difference in terms of dollars.
Also, I know that some lenders will give you a break on the closing costs but charge you a slightly higher rate. (I mean, realistically, they need to make money somewhere and are not doing the loan of the goodness of their hearts). Clearly, you get a greater long-term benefit by taking the lowest rate possible, even if it means paying slightly higher, but one-time, closing costs. And when you shop around, make sure the closing cost estimates you get include all money you will have to bring to the closing table. Loan officers can sometimes get cute and quote you JUST the fees and leave out the prepayment of taxes, insurance, etc. that have a huge impact on what you pay at closing.
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| Posted 3/25/12 8:38 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Closing Costs?
We paid around 12 k
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| Posted 3/25/12 9:11 PM |
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HomeIsWithU
Baby #2 on the way!
Member since 9/07 7816 total posts
Name:
Jenn
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Re: Closing Costs?
We closed in October and ours were $16K. Seller's refused to negotiate them and wouldnt agree to a concession.
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| Posted 3/26/12 9:18 AM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Closing Costs?
We paid 19k in September.
We were able to get a sellers concession (Thankfully!, 19k was more then we thought originally)
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| Posted 3/26/12 9:35 AM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: Closing Costs?
Paid about $10K last Summer
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| Posted 3/26/12 9:41 AM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Closing Costs?
We closed at the end of February this year and our closing costs were about $16,000 - about 5% of our mtg amnt (and 4% of the sales price)
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| Posted 3/26/12 10:38 AM |
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AScottWolf
I <3 our squish!
Member since 11/10 2237 total posts
Name:
Adriana
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Re: Closing Costs?
We're closing in about a month or so and as of right now our Good Faith Estimate says about 13-14k
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| Posted 3/26/12 11:03 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Closing Costs?
If you are putting 20% down you can choose not to escrow taxes, that would save you from having to pre pay taxes and reduce your closing costs.
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| Posted 3/26/12 11:15 AM |
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