How to Lower Your Closing Costs

After your down payment, closing costs typically come in as your second-most expensive home buying charge. For most buyers, they can be somewhere around 2% to 5% of the total purchase price — or about $4,000 to $10,000 on a $200K home. When you’re already shelling out tens of thousands for your down payment, not [...]

By |2019-06-24T14:46:51-05:00June 24th, 2019|Categories: Mortgage, Purchase|Tags: , , , |

The Repercussions of a Mortgage Not Closing on Time

Signing a purchase agreement for a home is an exciting day for both buyers and sellers. After possibly months of searching for the perfect home, buyers can breathe that first sigh of relief knowing what home they're going to buy, at what price, and on what date. It's the first time buyers can start [...]

By |2019-10-04T01:20:50-05:00February 9th, 2019|Categories: Mortgage, Purchase|Tags: , , |

The Point of Points

What are these and why do I need them? Points are one type of fee paid at closing by you to your mortgage lender. There are two types of points: origination and discount points. Origination points are charged to recover some costs of the loan origination process. Depending on the lender, the origination point(s) may [...]

By |2018-08-10T07:26:38-05:00April 7th, 2018|Categories: Mortgage, Purchase|Tags: , , |

Breaking It Down: Understanding Your Home Closing Costs

When you're a first-time homebuyer, the entire concept of closing costs may be elusive and intimidating. You know they're coming, but you have no idea what to expect. Luckily, a little knowledge can go a long way. Fees for loan application services and costs associated with your monthly mortgage—usually referred to as closing costs—can be [...]

By |2018-11-14T03:36:00-05:00March 30th, 2018|Categories: Financial, Mortgage|Tags: , |