How Much Are Closing Costs In Buying A Home?

 

 

You have requested information on "How Much Are Closing Costs In Buying A Home?"  Closing costs are comprised of two types, reoccurring and non-reoccurring.  Recurring closing costs consist of property taxes, insurance, association fee's and other possible impounded items.  These are normal costs involved with home ownership that are annual costs and reoccur each year.   Non-recurring closing costs are those fees involved in the loan process that are a one-time cost.   Examples of non-reoccurring closing costs are closing fee's, points, title insurance and other fees. The range is broad in this area depending on the type of loan and your credit profile.  Closing costs could be anywhere from one to five percent of the sales price.  In some cases the sellers may assist in paying for all or some of these closing costs.  In working with a mortgage professional they should disclose to you in writing what your total closing costs will be at the time you apply for your loan.

The loan professional that has made this information available to you specializes in assisting individuals in the home buying process.  To receive a more accurate disclosure as to the amount of closing costs that will be involved your specific real estate transaction contact our office at (insert telephone number).   Your loan professionals in most cases can advice you on the best approach and help you get the home of your dreams!