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Realtor’s Under-Estimated Closing Costs

We sometimes have buyers come to us with closing cost estimates from their Realtor that are much too low. While we are frequently able to incorporate a lender credit by increasing the rate for our clients, it is nonetheless disheartening to learn that their prior estimate of closing costs was greatly underestimated. Below is our table of nonrecurring closing cost estimates for various purchase prices. We still urge potential buyers to call us for a free consultation, in which we will carefully assess closing costs and provide a very accurate estimate.

Purchase Price / Nonrecurring Closing Costs
<$250,000 / $4,200
<$350,000 / $4,800
<$450,000 / $5,400
<$550,000 / $5,700
<$650,000 / $5,900
<$820,000 / $6,100

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646