CLOSING COSTS
Learn what it can cost to buy a home

There are more costs involved in the purchase of a home than just the down payment.  Buyer closing costs can come to approximately 3% of the purchase price.

First time home buyers can utilize the MFA program for not only down payment assistance, but for closing cost assistance as well.  We can also ask the Seller on your behalf, to pay 3%+ towards your closing costs.

Loan Related Costs
The lender's fees to make a home loan for a buyer typically are what cost the most.  These fees can include, but are not limited to: origination fees, appraisal and credit report.

Prepaids
Prepaids are costs required by the mortgage lender.  These fees are recurring.  They can include: hazard insurance, flood insurance (if applicable), interest, mortgage insurance and property taxes.

Title Fees
Fees charged by the title company are non-recurring.  Some items that can make up the fees are: recording fees, mortgagee's policy and mortgagee's policy endorsements.

Other home buyer costs that are not related to down payment or closing costs can be a home inspection.

For more information on closing costs or related questions, contact us today.