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Your source for Denver Relocation information |
Diana
Kearns, REALTOR, ASP, ABR and Michael P Kearns, REALTOR, GRI, ePRO |
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RELOCATION
101 DENVER
AREA INFO FREE
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FOR A NEW HOME HELPFUL
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STAPLETON ABOUT
RELODENVER |
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WHAT ABOUT CLOSING COSTS? Overall home financing costs to consider include:
Generally, closing costs (including prepaids) amount to between 3% and 7% of the home purchase price. The percentage depends on the region of the country in which you buy, the kind of mortgage you get and the time of the month you close. Prepaids must be collected at closing to cover the future month's taxes, interest and insurance. But the good news is most loan programs allow you to finance your other closing costs in the form of a slightly higher interest rate, reducing the amount of cash you will need at closing. Other loan programs allow some or all of the closing costs to be paid by the home seller or to come from other sources. Our Mortgage
Partners can provide information on average closing-cost percentages
for specific areas and loan programs. And, shortly after you apply for
a home mortgage, you will be sent a good faith estimate which provides
details on the approximate costs you will be required to pay at or before
closing. While it is only an estimate, it can help you budget for your
closing. How Much Mortgage Can I Afford? How
important is my credit history?
For more information,
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