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What are your closing costs?

by fhaeussler838 from , Florida. Dec 3rd 2014 Reply


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Dec 3rd 2014
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Joshua Lerette (FloridaFHAVALender)
#1 ranked lender in Florida - 46 contributions

At Carrington Mortgage we have absolutely no closing cost on all our FHA and VA loans.

Dec 3rd 2014
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Depends. On Florida bond program we give you $10,000 towards dn pmt and ccRegular conventional 995Fha could be zero

Dec 3rd 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

No one can answer that question without knowing all the facts first since there are many different factors that play into closing cost. You also need to consider prepaid items for your escrows like property taxes, homeowners insurance and days of interest. In addition, all lenders have closing costs because there are always third party fees that are associated with a home loan. They will be paid by the buyer at closing or by the seller (which means you could of received a lower price, so you are actually still paying for this if you really think about it), through the interest rate (usually for every .125 higher in rate the larger lender closing cost credit you will receive, so you are actually paying for this too just through a higher payment for the life of the loan) or they are paid through the loan on a refinance by rolling in the closing costs to the existing loan balance. Your best option is to get an actual Good Faith Estimate or Loan Cost Estimate for your particular situation with a local lender.

Dec 3rd 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,571 contributions

All loans have closing costs, and regardless of creative advertising, ALL LENDERS have essentially the same closing costs based on the program selected, and your personal situation. You have appraisals, credit reports, title companies, title insurance, underwriting fees, and in most areas, state taxes. Someone has to pay them, and it is always YOU. HOW YOU PAY THEM is where it can vary. ANYONE claiming to have no closing costs is simply increasing the base interest rate so that you pay the closing costs in the rate. That is generally OK for short term loans, but is usually a bad option if you intend on being in the loan for any length of time

Dec 4th 2014
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

Good comments and info from others previously. Closing costs are technically lender and attorney/title charges and fees but as others have pointed out there are also prepaid costs and escrows to consider, and there are significant state and local government fees in Florida often paid by the buyer as well. Thre are many different ways to structure a loan so that your costs are higher or lower but you have to compare apples to apples from one lender to another.

Dec 4th 2014
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