Are closing cost and a down payment different?
Yes, Buyers have 3 different closing costs you will be responsible for: 1) down payment 2) closing costs- these include any loan fees you choose to pay 3) Pre-Paid items such as taxes / insurance and interest for your new loan. You can ask Seller to provide you with a credit called Buyer's Closing Costs that you can use to help reduce the Closing Costs and Pre-Paids. When you start the Pre-Approval process ask the Loan Officer you work with for more detailed information about all costs that are going to be associated with your loan.
Blog Archive2017-07-14 10:45:41
Home Buying Myths Slayed!
First time home buyer, how do I apply for FHA?
The Impact Your Interest Rate Makes
5% Down With No PMI?
Do You Know the Cost of NOT Owning Your Home?
What is Mortgage Insurance?
Real Estate Mogul: Here’s Why You Should Buy
Slaying Home Buying Myths
Buying this Spring? Be Prepared for Bidding Wars
What Are the Experts Saying about Mortgage Rates?
4 Great Reasons to Buy This Spring!
7 Steps to Staying Mentally Sharp After 60
Do You Know How Much Closing Costs Will Cost You?
Do You Know the Real Cost of Renting vs. Buying?
First Comes Love… Then Comes Mortgage?
Preparing Your Home for a Loved One with Alzheimer
DIY Safety Tips for Seniors
Is This the Year to Move Up to Your Dream Home? If
Modifications to Make Aging-in-Place Safe
You Need a Professional on Your Team When Buying
Inadequate Inventory Driving Prices Up
The Fed Raised Rates: What Does that Mean For You
Building Your Family’s Wealth
Buying is Now 37.7% Cheaper Than Renting in the US
Why Are Mortgage Interest Rates Increasing?
Click here to see ALL articles.