Wednesday, June 5, 2019 / by Suyapa Sauceda
As more and more people begin to look into buying a home and the lending restrictions begin to ease a bit, it’s important to make time to talk about closing costs and what new buyers can expect. The first distinction we need to make is that closing costs are not the same thing as a down payment. It might be surprising to hear that you’ll have to come up with the money to cover two separate costs up front, but that’s how the home buying process goes. Let’s have a look at what closing costs really are and what you can expect to pay.
Closing Costs 101
Closing costs are the fees that need to be paid when the home buying process ends. When it comes to a close, in other words, closing costs are due. The specifics about what you can expect to be included in these costs varies depending upon where you live, the loan you choose, and the property you decide to purchase. In general, however, there are a few things you can typically expect to pay
• Appraisal F; ...