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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 paymentBuyer 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.

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Syan Real Estate is the exclusive brokerage for the following local online communities:
Ventana Ranch
Albuquerque
Rio Rancho
Belen
Rio Rancho Land
Los Ranchos de Albuquerque
Bernalillo
Placitas
Cabezon Homes
Jemez Springs
Mesa del Sol
Los Lunas
Rio Rancho Homes
Mariposa Rio Rancho
Loma Colorado
East Mountains
Corrales
Pajarito
Santa Rosa
Espanola
 

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