- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (4)
Best Answer
- Paul Mondello, "Paul Mondello"
- Contributions:2093
This is one of the ambiguous aspects that 'still' exists with a zillow mortgage quote...regardless of whether it is a purchase or a refinance
it says at the bottom of the quote: At closing, you'll need enough money to cover your:
it says at the bottom of the quote: At closing, you'll need enough money to cover your:
- Fees listed above, which total xyz
Does not mention the common option to roll closing fees into the loan - a cloudy message that might turn one away
- Eric Smith, "ohiosmitty"
- Contributions:352
To answer your question:
If you are refinancing, you can roll your closing costs into your loan as long as your total loan amount (with closing cost) doesn't exceed the loan programs loan-to-value.
If you are purchasing, you cannot roll your closing costs in the loan, regardless of LTV.
If you are refinancing, you can roll your closing costs into your loan as long as your total loan amount (with closing cost) doesn't exceed the loan programs loan-to-value.
If you are purchasing, you cannot roll your closing costs in the loan, regardless of LTV.
- bcav
- Contributions:1
First off, adding closing costs to your mortgage increases the interest you will pay for the life of the loan. Bad business. Secondly, if you can't come up with the cash to pay your closing costs, maybe you should reassess your ability to own a home. What would happen if, after purchasing your home, six months later the furnace dies on you? Or your basement floods? Do you have the "CASH" to cover these costs? Will you have to "borrow" the money to pay for these repairs? If so, you could be one of the reasons why the financial industry is in such a sad state of affairs. Man up and write a check for your cc's, its so much fun spelling out $XXXX.XX on your personal check.
- Chris Corica, "Chris Corica"
- Contributions:1075
You need to provide more details about the transaction to get an answer. Purchase or Refi? What is the loan to value?
Can I roll the $2758 fee into the mortgage
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.