Zillow Advice: Buying Process - Closing cost http://www.zillow.com/advice-thread/Closing-cost/422995/ Zillow Advice | Zillow Real Estate Hope you had a good Thanksgiving ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Hope you had a good Thanksgiving too and glad to see it was resolved.<br/>&nbsp;They did not look like they were doing a refi, it looked like the agent was giving the client a netsheet which is what every <a href="http://www.zillow.com/directory/real-estate-agents/">realtor</a> and agent should do so their clients have a good idea of what their closing costs should be.<br/><strong>To buyers and to sellers</strong> who read this, ask your agent to do a netsheet before you sign with them. This is really important for you to know what the guesstimated costs of closing will be. Sat, 26 Nov 2011 11:07:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-26T11:07:00Z Just for future reference ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Just for future reference for other buyers who may read your post, it's a good idea to get a <a href="http://www.zillow.com/mortgage-glossary/Good-Faith-Estimate-%28GFE%29/">good faith estimate</a> from the lender upfront. When it comes time to close, by law their final numbers must be very close to the original estimate. Also, having a good faith estimate makes it easier to compare <a href="http://www.zillow.com/directory/lenders/">lenders</a> rates when it comes to shopping for a <a href="http://www.zillow.com/mortgage-rates/">mortgage</a>. Best of luck in your new home purchase! Wed, 23 Nov 2011 21:42:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-23T21:42:00Z Is Allan Tate doing reif's ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Is Allan Tate doing reif's now? They must be slow. Wed, 23 Nov 2011 17:18:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-23T17:18:00Z Actually we got the estimate ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Actually we got the estimate from the <a href="http://www.zillow.com/mortgage-rates/">Mortgage</a> agent in Allan Tate. Just was not sure what the extra costs were over 2700.....nway its all sorted now....<br/><br/>Happy Thanksgiving everyone!&nbsp; Wed, 23 Nov 2011 17:14:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-23T17:14:00Z Thats good to hear, hopefully ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Thats good to hear, hopefully they gave you a new good faith estimate.When you first work with an agent or <a href="http://www.zillow.com/directory/real-estate-agents/">realtor</a>, ask them to give you an estimate of closing costs so you have some idea of what costs could be. Wed, 23 Nov 2011 15:01:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-23T15:01:00Z Thanks all! we finally have ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Thanks all! we finally have a number that makes sense as we won't be making payment on our <a href="http://www.zillow.com/mortgage-rates/">loan</a> until feb and they are including in closing hence the closing is a bit high.... Mon, 21 Nov 2011 14:18:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-21T14:18:00Z Closing cost depend on the ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Closing cost depend on the <a href="http://www.zillow.com/mortgage-rates/">MORTGAGE</a> amount (the money u are borrowing) figure 4% of the <a href="http://www.zillow.com/mortgage-rates/">loan</a> amount to be safe, and then your lawyer fees. Sat, 19 Nov 2011 15:57:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-19T15:57:00Z Your Good Faith Estimate ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Your <a href="http://www.zillow.com/mortgage-glossary/Good-Faith-Estimate-%28GFE%29/">Good Faith Estimate</a> (GFE) provided by your <a href="http://www.zillow.com/directory/lenders/">lender</a> is the best place to find out what your closing costs are going to be.&nbsp; There are very strict laws now on how your GFE is to be presented to you and what can be charged at closing that is not identified on your GFE.&nbsp; Another great resource at your disposal is your closing attorney.&nbsp; Your closing attorney will advise you on your GFE and what the law is regarding it.&nbsp; Contact your <a href="http://www.zillow.com/mortgage-rates/">loan</a> officer and your closing attorney to get the best answers.&nbsp; These people are working for you!&nbsp; Tue, 15 Nov 2011 22:50:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-15T22:50:00Z Depends on the price of the ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Depends on the price of the home, anywhere from 2-3% of the cost of the home.Depends on a lot of variables though, did you get a home inspection, what is the <a href="http://www.zillow.com/directory/lenders/">lender</a> charging, etc. Your agent needs to give you a 'net sheet' and you need to look at the <a href="http://www.zillow.com/mortgage-glossary/Good-Faith-Estimate-%28GFE%29/">Good Faith Estimate</a> you received from the lender.&nbsp; Tue, 15 Nov 2011 22:30:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-15T22:30:00Z Did Allen Tate Mortgage tell ... http://www.zillow.com/advice-thread/Closing-cost/422995/ Did Allen Tate <a href="http://www.zillow.com/mortgage-rates/">Mortgage</a> tell you the closing costs would be $2800, or did an Agent tell you that? An agent would be guessing. Their mortgage folks should know. <br/><br/>You need to break the closing costs down into several categories, and the category actually called "closing costs" should be around that figure. Then you add prepaid items, impounds, and misc. other items, that make up the total "settlement cost".<br/><br/>Do you have a <a href="http://www.zillow.com/mortgage-glossary/Good-Faith-Estimate-%28GFE%29/">Good Faith Estimate</a> yet? That is the document that has to be correct or the <a href="http://www.zillow.com/directory/lenders/">Lender</a> gets to eat the mistakes, generally. What is the price? How much are you putting down? What rate were you quoted? 30 year fixed? That would help anyone on Zillow assess whether the figures are reasonable. Tue, 15 Nov 2011 22:24:00 GMT http://www.zillow.com/advice-thread/Closing-cost/422995/ 2011-11-15T22:24:00Z