How much are closing costs when buying a
home?
Closing costs are
comprised of two types, recurring and non-recurring.
Recurring closing costs consist of expenses such as property taxes, insurance,
and association fees.
These are normal costs involved with home ownership that are annual
costs. Non-recurring closing costs
are those fees involved in the loan process that are one-time costs.
Examples of non-recurring closing costs are closing fees, points,
and title insurance. 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.
Landmark Mortgage
will disclose to you, in writing, what your total
closing costs will be at the time you apply for your loan.
Landmark Mortgage
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, please contact us. We can advise you on the best
approach and help you get the house of your dreams!
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