2006-07-02 03:54:37 · 5 answers · asked by Samuel J 1 in Business & Finance ➔ Renting & Real Estate
Absolutely impossible to tell with the given information. Ask your lender or realtor.
2006-07-02 04:28:39 · answer #1 · answered by Christopher 4 · 0⤊ 0⤋
Closing cost will vary greatly depending upon where you live. For example, a real estate lawyer will charge you anywhere from maybe $250 to thousands of dollars. You will need to put up escrow money, which is based upon the real estate taxes on the property. Will the lender charge you points? etc
When you meet with the lender to fill out your paperwork for the mortgage, they will be able to give you an estimate of the closing cost based upon the specific house you are buying and your individual circumstances
2006-07-02 04:10:54 · answer #2 · answered by ps2754 5 · 0⤊ 0⤋
Your actual closing cost can vary from lender to lender and from broker to broker.
One lender may charge for example $499 to underwrite and process your loan do all the things they need to do to get the loan prepared and signed while another may charge $1299.
One mortgage broker may charge you 1-point for finding the loan for you while another may charge 2-points. So you could pay for example $1788 to the broker or $3576.
Either way you must, by law, be given a Good Faith Estimate of your closing cost, if you are not given this prior to closing - inform your broker and tell them to correct the oversight. If they refuse, walk away, find your state governing body and file a complaint and rush right over to a ligit mortgage broker who follows the law protecting the consumer.
Just one more thing, and its' just my feeling, if your mortgage broker is going to charge more than 2-points, I think that is just to much - ask for the reason behind his charges. Once again that is just my feeling on mortgage broker fees - I would also suggest you check with your state and see what the state limit is that a mortgage broker can legally charge.
2006-07-02 18:15:03 · answer #3 · answered by gm1957 3 · 0⤊ 0⤋
Estimate of the closing cost, has to be given to you by law, and if its not what you expected walk out. The real estate market is starting to feel the pinch, and if your doing a refi or a purchase your in the drivers set. My BEST suggestion to you, is to seriously shop around for cost and rate. Watch points and underwriting and processing fees.
2006-07-02 04:31:24 · answer #4 · answered by mevanr8x7 3 · 0⤊ 0⤋
closing cost vary...state to state....lender to lender....contract to contract....Ask your realtor.
2006-07-02 03:59:14 · answer #5 · answered by Bear Naked 6 · 0⤊ 0⤋