These are the funds required to close escrow. They are used to pay for items such as loan processing, title & escrow fees, and prepayment of your first year of homeowners insurance and property taxes. These are usually about 2% of your purchase price but can vary. Your Realtor may be able to negotiate for the seller to pay some or all of your closing costs. I also have lender credits available to you for up to 3% of the loan amount as well!
Did You Know...
The seller can contribute towards your closing costs?!
Combine that with The Finance Group's exclusive lender rebate option means little to nothing in closing costs!
Up to 3% of your closing cost can be paid by the lender!
How much should I expect to pay?
- Title Fees
These will be the same, regardless of lender.
Usually $1500-2000, but can vary based on purchase price and the title/escrow company chosen ( - Lender Fees
Appraisal fee of $495-575 ( varies )
Credit Report/Tax Service fees approximately $100 or less
Processing fee of $1395 (waived for Veterans and Law Enforcement)
No Other Hidden Fees - Pre-Paid Fees (will vary)
These will be the same, regardless of lender.
1 year Fire/Hazard Insurance
6 months (approx.) Property Taxes
Pre-paid Interest (if applicable)
