|
Some closing costs to expect:
1. Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.
2. Third-party fees include charges for insurance, title search, and other inspections such as termites.
3. Government fees include deed recording and state & local mortgage taxes.
4. Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.
1. Check your credit rating. Straighten out any errors before its too late.
2. Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
3. Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
|
