Zillow Advice: Home Buying - I am planning to apply for an FHA loan and have 3.5% for a down payment, do I pay closing costs also

What if this house is in ...

Sun, 31 May 2009 20:02:00 GMT

What if this house is in preforclosure or just became bank owned? What does it mean to ask for a specific amount if REO?

First I suggest you ask your ...

Tue, 19 May 2009 01:38:00 GMT

First I suggest you ask your loan officer how much closing cost you will need. Typically it is three to four percent of your purchase price. Once you know ask your Agent to find out if there are any offers on the home you have selected. If not, you are in a better position to ask the seller to pay you closing cost. If the home you want is bank owned (REO) ask for a specific dollar amount, if owner occupant is seller, ask for the 3 to 4 percent of the purchase price. If there are other offers, you would have a more attractive offer by paying the closing cost yourself.

Closing costs can be part ...

Mon, 18 May 2009 21:32:00 GMT

Closing costs can be part of the negotiations. You may be able to get the seller to pay for some if not all. I will depend on the seller, your offer, competing offers and many other factors. Your agent should be able to help you.