Tag Archive for: closing costs

Residential Financing for Commercial Property? BEWARE of Closing Cost Credits!

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A borrower almost left us recently for another lender that was offering a $1,000 credit for closing costs – because … WOW! $1,000! BUT.. that lender also offered that same […]Read More

Typical Closing Costs in Texas for Buyers and Sellers

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Buying or selling a home in Texas can be a daunting task, especially when it comes to the financial aspect of the process. One financial component that homebuyers and sellers often overlook are the closing costs. The closing costs in Texas can be quite significant and play a major role in the final sales price of the property. In this article, we'll look at what these costs entail, who pays them, and how much average closing costs are.Read More

How Much House Can I Afford? A Guide to Home Buying

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Wondering how much house you can afford? Dive into our comprehensive guide covering everything from mortgage basics and down payments to credit scores and debt-to-income ratios. Gain the knowledge you need for a confident and informed home purchase journey.Read More

Understanding APR vs. Interest Rate

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When comparing loans, the APR is an invaluable tool. It's not just about the rate of interest; it's about the overall costs of a loan. By factoring in additional fees and costs, APR provides a more comprehensive picture of what you’ll actually pay. This is crucial for making informed decisions, especially when comparing loans with different structures and fees.Read More

Understanding Lender Credits In Home Mortgages

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Lender credits are discounts offered by the lender that apply to closing costs and reduce the amount of money you pay at closing.Read More

What Are The Average Closing Costs in California?

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Closing costs are the various fees and charges buyers face when buying a home that are required in order to close on a loan. But what are the average closing costs in California? Closing costs typically run between 2% and 5% of the home’s purchase price for homebuyers in California. However, many closing costs vary with the price of the home or the loan amount.Read More

Closing Cost Credits Are Back! (From Sellers and Agents)

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I used to blog frequently about closing cost credits from sellers and agents – but I stopped because the market was so hot that no seller or agent would consider […]Read More

7 Reminders For Seller Credits And Repairs

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Seller Credits For Repairs Many homebuyers can get credits for closing costs in lieu of credits for repairs. Sellers are often unwilling to credit anything in hot markets, but sometimes […]Read More

Can Borrowers “Roll Closing Costs Into The Loan?” 1,000 Five-Star Reviews!

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1,000 FIVE-STAR REVIEWS! Several years ago a mortgage bank with a very impressive software platform was recruiting us, but the firm had hundreds of horrible online reviews. We met with […]Read More

Closing Cost Credits; Agent Credits Allowed; Reminders

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Closing cost credits are often necessary to help cash-starved borrowers close transactions, as total closing costs can easily exceed $10,000 for even inexpensive homes, depending on transfer taxes and other fees local to a particular county.Read More

What Are Closing Costs And What Do They Include?

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The cost of purchasing a home includes more than just the down payment. In addition to the down payment, you will also need to pay closing costs which include various items and costs. It is crucial that homebuyers keep these in mind when budgeting.Read More

How To Choose the Best Mortgage Company

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Working with an experienced mortgage lender can be beneficial to you in several ways. But how can you determine which of the countless mortgage companies near you is the best? As you start your research to choose a mortgage lender, the first thing you'll want to identify is what type of property you want. Mortgage companies often specialize in specific loans for different kinds of properties.Read More

Can You Avoid Paying Mortgage Closing Costs?

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Your mortgage closing costs consist of all the additional costs that you have to pay as you prepare to close on your home's loan.Read More

What Are Closing Costs For Homebuyers?

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“Closing costs” is an all encapsulating term that many homebuyers will hear often once their offer has been accepted. Closing costs consist of all the additional costs that homebuyers have to pay as they prepare to close on their home. The typical estimate mortgage lenders provide for closing costs is between 3% and 5% of the home’s value – therefore, the higher the purchase price, the more closing costs buyers will have to pay.Read More