Zillow Advice: Buying Process - Can Someone tell me the approximate closing cost for a house in California priced at $970,000? http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Zillow Advice | Zillow Real Estate Here in the Bay Area, I usually ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Here in the Bay Area, I usually tell buyers to figure 1.5% of the purchase price. The truth is, it really depends on the type of financing you'll be using. Different lenders have different origination and other fees. Title insurance varies based on purchase price. You've got to pay for inspections ($1000 to $1500), first year of home owners insurance, transfer fees, supplemental taxes.... etc. 1.5% will almost always cover it unless the transaction is structured in an irregular way. <br/><br/>One thing I definitely recommend..... use either a lender you already have a relationship with, or a local lender.<br/><br/>Hope this helps:)<br/><br/>David<br/>SanMateoLiving Mon, 10 Oct 2011 17:16:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T17:16:00Z 3% of the purchase price ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 3% of the purchase price is a general rule that many <a href="http://www.zillow.com/mortgage-rates/">mortgage</a> reps stand by. The type of <a href="http://www.zillow.com/mortgage-rates/">home loan</a> in questions also plays a big role. Government-backed <a href="http://www.zillow.com/mortgage-rates/">loans</a> have higher closing costs in most cases. Sat, 03 Dec 2011 19:48:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-12-03T19:48:00Z Hi Sareban, From a general ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Hi Sareban, <br/>From a general stand point, we usually quote about 2% of the sales price. The specific answer to your question depends on what part of the state you are moving to. Here along the coast of Orange County, and our neighboring cities, closing costs are broken down into two types: recurring and non recurring. Recurring costs are costs of home ownership such as property taxes and loan payments. These are generally prorated based on your closing date. For example, you could pay as little as one month or as much as 5 months of property taxes through escrow. Likewise, you might pay a few days of advance mortgage interest or almost a month. When perspective buyers inquire about closing costs, they usually want the most data on the non recurring or one time fees. These are broken down&nbsp; into four main categories: lender, escrow, title, and inspections.&nbsp; Today's lender generally should only charge you a modest processing fee and a few small misc fees that should be about no more than $1,500; which includes your appraisal. Next the escrow fees are generally based on purchase price (2 dollars per thousand) plus some generic fees. Putting you at about $2,500. Title insurance for the buyer is based on your loan amount.&nbsp; Assuming about 70% loan value ($679,000), your base fee would be $835. Lastly, a general home inspection will run between $400 and $600 depending on the size of the home, additional inspections will cost more.&nbsp; Please note that the higher priced the home is, the smaller the percentage for closing cost. In closing, the best thing you can do is chat with a local professional Realtor and have them draft an"estimated Buyer's cost sheet". Thu, 13 Oct 2011 23:06:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-13T23:06:00Z Saraban,I think you are inquiring ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Saraban,<br/><br/>I think you are inquiring about your total Settlement Costs. If so, I'll agree with Linda. About 3% of your purchase price. As far as David's link on escrow and title fees with this one you don't have to submit any information. <br/><a href="http://www.firstamericantitle.com/fee_schedules" rel="nofollow">http://www.firstamericantitle.com/fee_schedules</a><br/><br/>Happy funding, Rudi Thu, 13 Oct 2011 00:58:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-13T00:58:00Z Wow - five agents answered ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Wow - five agents answered and each answer was different. So either the questions needs additional details before it can be answered or most agents have the incorrect (there should&nbsp; be at most one right answer). Mon, 10 Oct 2011 21:40:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T21:40:00Z Thank you all for your help. ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Thank you all for your help. &nbsp; Mon, 10 Oct 2011 20:54:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T20:54:00Z Just found a handy closing ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Just found a handy closing cost calculator of a local title companies website. Thought you might find it useful. I suggest using the numbers you come up with as a ballpark figure, not an absolute number.<br/><br/><a href="https://rates.gottitle.com/tpe/forms/Criteria.aspx?Metro=NCA" rel="nofollow">https://rates.gottitle.com/tpe/forms/Criteria.aspx?Metro=NCA</a><br/> Mon, 10 Oct 2011 19:35:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T19:35:00Z It is 3% of the purchase ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ It is 3% of the purchase price. Mon, 10 Oct 2011 17:23:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T17:23:00Z SarbanYou do not tell us ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Sarban<br/><br/>You do not tell us what your down payment will be.&nbsp; Also note that depending on the down payment, you will either be in what they term Jumbo or High Conforming balance.&nbsp;&nbsp; Fannie and Freddie recently lowered their limits for High conforming balance loans.<br/><br/>You lender also prices costs with both the lowest rates and fees, in addition to the highest rate with lowest fees...this is a new regulatory requirement.<br/><br/>Worst case, a good rule of thumb is 2-3 per cent of loan amount.<br/><br/>Good Luck. Mon, 10 Oct 2011 17:03:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T17:03:00Z Closing costs also depends ... http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ Closing costs also depends on your loan amount. Typically, 1% of your your loan amount, $500 for appriasal fee, underwriting fee , credit fee, escrow fee, prepaids on interest &amp; Taxes. Two percent of the loan amount is a good estimate/approximate of closing costs. Mon, 10 Oct 2011 17:02:00 GMT http://www.zillow.com/advice-thread/Can-Someone-tell-me-the-approximate-closing-cost-for-a-house-in-California-priced-at-970-000/418721/ 2011-10-10T17:02:00Z