closing costs: Home Buying Costs You Need to Know About in Lapeer
- 03/12/15 03:34 AM
Story from Craig Donofrio, 10 Home Buying Costs You Need to Know About, talks about first time buyers and their fees ... If you’re a first-time home buyer, you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might also be a little more than perplexed by some of those fees. Knowing what you’re paying for—like these 10 common costs—can ease that check-writing pain. 1. Earnest money To prove you’re “earnest” in your purchase commitment, expect to plunk down 1% to 2% of the total … (1 comments)
closing costs: What is Seller Concessions?
- 02/23/15 06:27 AM
What is Seller Concessions? Seller concessions are when a home buyer asks the home seller to pay costs on the home buyer’s behalf. These costs could include: Title insurance, processing, origination, inspection fees and transfer taxes. For the buyer, the more costs a seller is willing to assume, the more they’ll be able to put down on their new mortgage, allowing them to save money on their payment. For the seller, bringing money for seller concessions is a great way to get their home sold fast. And if the seller already has another home, getting rid of an extra mortgage payment can … (1 comments)
closing costs: e-Mortgages Will Speed Closings and Cut Costs
- 06/04/14 10:42 AM
e-Mortgages Will Speed Closings and Cut Costs according to Fannie Mae. This weeks mortgage article from RealtorMag talks about electronic mortgage processing...
An electronic mortgage process could cut 30 days off the average 52 days it takes to close a loan, according to a team developed by Fannie Mae to study e-mortgages. What’s more, going paperless could save the mortgage industry an average of about $1,100 per mortgage—or about $1 billion a year. Still, the industry has been slow to adopt electronic mortgage processes, facing several hurdles in transitioning to an all-electronic system. However, the process is expected to get a boost … (0 comments)
closing costs: Potential Buyers Closing Costs in Lake Orion MI
- 04/01/13 10:02 PM
Potential buyers closing costs in Lake Orion MI. Real property is transferred from the seller to the buyer through a real estate contract. The contract is executed and the title to the property is transferred to the buyer at closing. A variety of costs associated with the transaction is to be paid by either the buyer or seller. These costs are paid at the closing and are known as closing costs. Closing costs might include: Title Service Costs * Recording Fees * Transaction Stamps or Taxes * Survey Fee * Brokerage Commission * Mortgage Application Fees * Points * Appraisal Fees … (0 comments)
closing costs: Closing Costs
- 11/26/10 11:44 PM
This is an excerpt from the new book, "Finding New Neighbors" Closing costs are going to be required on any financed real estate purchase. Closing costs consist of a multiple of elements from origination fees from the lender, appraisal fees, pro-rated taxes, broker compliance charges, lender processing fees, underwriting requirements and charges, tax escrows and other specific items all detailed within the estimated proceeds page from the lender and/or Title Company. Typically these costs range from 3% to 6% of the total purchase price, depending on the level of the purchase value and the mortgage company requirements. Closing cost figures will … (0 comments)
Story from Craig Donofrio, 10 Home Buying Costs You Need to Know About, talks about first time buyers and their fees ...
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