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on a 100k first mort. purchase loan, 70% ltv, can you tell me what the closing costs would be?

by rdickey2425103 from , . Apr 19th 2017 Reply


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Apr 19th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Much more info needed to advise you.. every property is going to be different.. when it comes to closing costs, some fees are "Fixed" meaning, that if you purchase a $100K home or a $1M home, the fee is the same.. other fee's are based on the sale price, and other fees are based on the loan amount.. Also, certain property types will have different fees.. Condo's, townhouses, Single family homes, Planned Unit developments (PUD's), etc.. each can have different costs associated with the transfer.. is the property on a well or septic? certain states require inspections upon sale.. again.. it's impossible to advise you.. If you what a real estimate.. then try contacting a local lender and let them look at your complete loan profile, including the address... With that info, they can put together a quote within minutes.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 19th 2017
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Larry Gray (lgray_312_247)
#563 ranked lender in California - 1,127 contributions

There are many different requirements on a home purchase loan; escrow and title insurance (s) are critically important to the process. If you are looking to pay your property taxes separately on your own as well as your homeowner's insurance policy, you can lessen initial costs by not needing to put up a tax and insurance impound account. Assuming you decide to pay your own property taxes/insurance instead of the lender on a $100,000 purchase loan with a $70,000 loan amount I would think you could keep your closing costs down to little more than a few thousand.. Taking a slightly higher rate, you might include a $700 lender credit..

Apr 19th 2017
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