closing costs: Real Estate Closing Costs: What Are They and How Much Do They Cost? - 04/24/22 11:23 AM
Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage balance so it’s important to be financially prepared for this expense.
What are closing costs?
Closing costs include a range of charges for services related to applying for a mortgage. Some of the costs are related to the property — appraising it to verify its value and searching property records to ensure a clear title — and others are related to the paperwork involved, including attorney fees and the … (4 comments)

closing costs: FHA Closing Costs: What They Are and How Much They Cost - 04/19/22 09:49 PM
When applying for an FHA loan to buy a home, you’ll need more than just 3.5 percent of the purchase price as a down payment. As you budget, it’s important to make sure you factor in FHA closing costs, too.
 
What are FHA closing costs?
The closing costs on FHA loans are the fees charged by the mortgage lender and the various other players involved in the loan process, and typically total between 2 percent and 6 percent of the home’s sale price. These fees also include an upfront mortgage insurance premium and prepaid items.
Closing costs vary by state, however, and can be much higher in states with higher tax rates. … (2 comments)

closing costs: Borrowing Costs Jump as Rates Continue to Increase - 04/03/22 05:55 PM
For the fourth consecutive week, mortgage rates surged, up more than 90 basis points in one month.
Rates have jumped from 3.76% to 4.67% in just March alone, significantly increasing the borrowing costs for buyers, Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTORS®, wrote for the association’s blog.
The monthly payment for a median-priced home with a 30-year fixed-rate mortgage rose more than $170 in March due to higher rates, Evangelou notes.
In the past three months, that amount has been increasing even more. For example, LendingTree offers the following example: A 30-year, fixed-rate mortgage loan worth $300,000 … (0 comments)