Posted by NewBuyer on January 13, 2010 | No Comments
An essential guide to understanding home closing costs. Descriptions of lender fees, third-party fees and government fees are well documented. From the resource: “Generally, the buyer pays for closing costs – but this can be negotiated with the seller. Your lender should provide a good faith estimate of your closing costs within three days of applying for a mortgage. Here are some common closing costs.”
Source: USAA
Read More About Closing on a Home at Newbuyer.com
Posted by NewBuyer on January 6, 2010 | No Comments
An insightful example of ten steps outlining what typically happens during the home closing process. The steps encompass earnest money, title check, homeowner’s insurance, disclosures, inspections and contingencies, appraisal of property, loan approval, equest to payoff seller’s existing mortgage, cashier’s check, “signoff” & closing appointment, final steps. Although these exact steps are specific to the resource, they provide a general understanding of the closing process.
Source: ZipRealty
Read More About Closing on a Home at Newbuyer.com
Posted by NewBuyer on January 6, 2010 | No Comments
Guidance on what to do and expect before and during the closing meeting. Discussed is who attends the mortgage closing, (i.e. the home buyer, the home seller, closing agent, title insurance representative, escrow agent, and the real estate agent). Also mentioned is the number of steps involved between the offer being accepted and the closing process.
An example from the resource is about setting the closing date: “The closing date is set when your mortgage is approved and you sign a commitment letter with your lender. Make sure the closing date is before your lock-in rate expires.”
Source: Freddie Mac
Read More About Closing on a Home at Newbuyer.com
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