Question by  Rex (11)

What is a realistic home buying closing cost estimate?

I want to be prepared.


Answer by  Conjurer (53)

A closing cost fee usually includes an origination fee for the lender, discount points, homeowner insurance fees, title fees, escrow reserves, PMI fees, to name just a few. Some of these items are contingent upon how you are financing your home (i. e are you paying discount points, etc). So the fees can range from the hundreds to the thousands.


Answer by  blahblah (670)

Closing costs vary a great deal by state and locality. Ask a local realtor or a local bank what the typical closing costs are in your area and what's included. For example, Florida has very high closing costs of about 3% of the price of the home.


Answer by  Roland27 (16334)

There is no set price for a home closing cost. Some sellers will pay some or all of the closing costs as a part of the homes selling price. Sometimes the buyer will get a really good deal on the home and have to pay the full closing cost. So really it depends on if you got a good deal.


Answer by  kenvde85 (32)

I have done several real estate transactions and usually you are looking at about 3% of the purchase amount in closing costs. Title company, county stamps, attorney and upfront escrow costs. When you buy a house you can negotiate with the seller to help pay for these costs.


Answer by  msreed (14)

After applying for a loan, you should receive a "Good Faith Estimate" of these charges. Typically, it is 3 to 5 percent of the selling price. So if house is $100,000, prepare for 3,000 to 5,000 dollars. Try asking the seller to pay for your closing costs.


Answer by  Ralphie1954 (420)

It is generally three to eight percent of the price of the house. It depends on the time of the year depending on the split of the property taxes.

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