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How much is closing costs on usda mortgage?

by kate.brody979 from Cleveland, Ohio. Oct 23rd 2014 Reply

William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,360 contributions

That's an impossible question to answer with out knowing the specifics.. When it comes to mortgage finance, some of the costs are fixed, meaning whether you purchase a $100K home or a $300K home, the fee would be the same. Other costs can be variable and are based on a percentage of either the selling price or loan amount.. Also, each state is different.. some states use attorney's while other state only use title/escrow companies.. and some states use both.. Also, there are many ways to get the closing costs paid for you.. you can ask the sellers to contribute, you can ask your RE agent to contribute, and you can ask your lender to contribute.. If you are really interested in knowing exactly, then the best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see the complete loan picture, they can type up several loan scenarios for comparison.. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Oct 23rd 2014
Tim Bradford (Tim Bradford)
#6 ranked lender in Ohio - 145 contributions

Kate, I agree with William Acres that that without specifics no one can give you a legimite estimate. My office is in Parma Heights and I would be glad to speak with you and provide you with an estimate. You can call me at 216.324.8113 or send me a message at Will also say that you need to be aware that Rates Offerred and the amount of Closing Costs go hand in hand. You need to be aware of both when you compare your options. Also, you can request sellers assistance with the closing cost or use a Grant Program. I will gladly discuss with you the specifics.

Oct 23rd 2014
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