Tag Archive for: non-recurring closing costs

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

The “No Out of Pocket” Scam; Worst Advice Ever!

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There are two kinds of closing costs, as most people know: (1) non-recurring or “one-time” fees like title insurance, escrow, appraisal, etc.; and (2) recurring costs like property taxes, insurance, and interest.Read More

Closing Cost Credits for Impounds and Transfer Taxes Too

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We frequently remind Realtors that credits for closing costs can be for both recurring and non-recurring closing costs. Credits should always just be for “closing costs” without delineating “recurring” and […]Read More

Mass “Disclosures” – What To Look For?

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Mortgage disclosures can be daunting, but you only need to focus on a few key items—interest rates, prepayment penalties, and closing costs—to ensure your loan terms match what was quoted and avoid any surprises.Read More