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Closing Costs

Contributions: 1

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Are closing cossts percentage based on sale price of house or loan amount?

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April 25 - Memphis

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Amy Wood, "amysloans"
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Amy Wood, "amysloans"

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There are several line items included in closing cost. Some are calculated on a percentage basis and there are some that are set fees...for example: appraisal, set fee...credit report, set fee...OUR underwriting fee, set fee...Origination if you chose to pay, percentage fee...title expenses, percentage fee....let me know if I can help you!

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June 05

Patty Everitt, "Patty Everitt"
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Patty Everitt, "Patty Everitt"

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Hi,
We , as agents, are told to make it off of the total price, by the lenders, the additional expenses, usually come from the lender the discount points, the lender's fees, then the titile company- who actually insures the title to be "clear" so you actually take the deed without "clouds" on them, usually it runs about three percent unless , the person purchasing has horrible credit and has to have a huge change in rate etc to make the deal go through.

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June 04

Connie Wildasinn, "pwildcon"
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Connie Wildasinn, "pwildcon"

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depending on the line item, both... loan charges are based on your loan ofcourse... title and escrow are based on your sale price... if you are the seller .. commissions based on the sales price.. etc.. speak with your realtor or lender to an exact line item pricing.... good luck

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April 25

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Question I am interested in buying a property bank-owned. is half price a good start to bid on a property

Question Is it true that banks reduce the price every twenty days on bank-owned properties

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Question I always seem miss the good deals with foreclosures. What other tools can I use to find them?

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