Typical closing costs for a $300,000 loan to puchase a home in New York state?

Question

I got a preapproval letter for the loan, but realize that I have very little liquid cash to cover closing costs (in an emergency I could cash out part of a 401K). What would the range typically be and what would a reasonably competitive figure be to cover closing costs? Any information you have would be helpful.
Also, is it reasonable when making an offer to stipulate that I have 60 days to close or is it generally expected that everything will be complete within 30 days? Thanks.

Answer 1

your realtor can give you a good estimate of "closing costs"

your realtor may even have a few lawyers that they know of that provide a "reasonable" fee.

or you can phone around..

you should ask some friends, realtives, or people you work with
the people that did your "approval" may have a list of recommended low cost lawyers..with a good reputation..

i had a lawyer give me a "flat rate" then 3 days before closing upped the price..I was ready to pull out on him so he matched the price..

so you need someone reputable as well..
good luck and start phoning......

Answer 2

New York has a "mortgage tax" so I couldn't guess at the costs, but as far as the closing date...

You can put anything you want to in the Offer. They don't have to accept it, but you can put 60 days or even more. You can even put in the offer they have to contribute to your closing costs, and wear a red hat at the Closing if you want to.

Answer 3

seems somewhat intense. Are you paying factors? How is your credit? nevertheless, expenses of pastime are on the upward thrust and in case you'll stay contained in the abode longer than the 5 365 days time period before your ARM starts adjusting, you need to in basic terms refinance now. have you ever shopped round to different organizations? perchance in case you get a somewhat more advantageous helpful deal, you should use that as leverage to get your present day lender to decrease their expenses.

Answer 4

Read All About This Here:
http://www.topamericanmortgage.com/new_york_refinance_lenders.asp

http://www.proloanz.com/