Closing Costs

When it comes time for you to purchase a new home or refinance the one you are living in, you cannot forget about the closing costs. Closing costs consist of no more than 5% of the total amount of the loan, so when you are sitting down to figure out your financial situation to get a grasp on what you can afford and what percentage you can put down, don’t forget to factor in the closing costs. The closing costs you will pay are a one time fee that in no way can be avoided, so be prepared to pay them. Closing costs consist of loan origination fees’, escrow fees’, home owner’s insurance, title insurance, property tax, property inspection, the appraisal fee, etc. As you can see, you will be responsible for paying quite a pretty penny before you even step foot in View the rest of this article