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Closing Costs

I'm buying a new home and the developer is offering to pay $4,400 of a total of $7,521.72 in closing costs on a $220,000 home.  Is this a good deal?
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November 16 2012 - US
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Answers (1)

Profile picture for Honesty Sells
3.5% is definitely not an overcharge, but this doesn't mean there's no room for negotiations. Just go through the TIL or Truth In Lending with a fine tooth comb to find any possible over charges.

This page may help you with sorting actual closing costs -
http://www.themortgagehome.com/home-buying-help/closing-costs-on-a-house

So much has to do with your credit & debt ratios it's very hard to give an accurate answer. Bad credit and/or debt ratios may mean more work for the loan officer and the need for more money from you to pay for that time.



 
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November 17 2012
 
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