There are some people who are able to pay cash for a home. Typically, these are individuals who are selling an existing property that has gone up in value. Now, all of a sudden, they have a lot of extra money they can spend on a house. If you can pay cash for a home, you have a lot of extra negotiating power. When it is time to complete the sale, who pays? What Is Included In Closing Costs? Before deciding who pays closing expenses, it is important to take a look at what is included. Because you … [Read more...]
The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs
It's amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer. Understanding Third-Party Closing Costs When closing on a mortgage the borrower will notice a long list of additional fees that they are expected to pay for. These can … [Read more...]
How Negative Closing Costs Work
If you want to save money on your home loan, you might be thinking about refinancing your mortgage. You might be able to replace your existing mortgage with a home loan that has a lower interest rate. Even a single point reduction in your interest rates could save you tens of thousands of dollars over the life of your loan. Before you refinance, be sure to ask about closing costs. Because you are replacing your existing home loan with a new one, you may incur some closing expenses. On the other … [Read more...]
Do You Need a Real Estate Attorney to Help Close Your Home Purchase? Let’s Take a Look
When buying a new home, you may have a close eye focused on your budget and expenses, and your goal may be to keep related expenses to a minimum. However, you may also be well aware that a real estate purchase is a legal transaction, and you may be wondering if you need to pay for legal services from a real estate attorney. With a closer look, you can make a better decision that is right for your home buying plans. The Legal Forms Used With A Typical Transaction The majority of real estate … [Read more...]
