Expect Your Closing Costs To Be…
Closing costs may include, but are not limited to, property inspection, appraisal, property transfer tax, utility prorations and tax pro-rations. Closing costs may also include the proration of association dues, homeowner’s insurance, private mortgage insurance (PMI), prepaid interest and/or a tax prebate/rebate. Variables affecting your closing costs are credit scores, interest rate, loan program or locale. Generally, you can expect your closing costs to be a minimum of 3% of the total purchase price of your home. Thus, you will need to have this amount available at the closing table or you will need to build this amount into your financing.-Jessica Bridge
