Established Contributor
Posts: 512
Registered: ‎06-08-2007


Are closing costs added to the cost of the home? Basically what I'm asking is, is everything rolled into one & all you have to put down on the day of signing is 3%, or is it 3% plust closing costs due at signing.?
Super Contributor
Posts: 6,510
Registered: ‎07-03-2007


3% is the minimum commitment from the borrower. And can be a gift rom family or charity. There are some HUD approved
Closing costs are extra but they can be paid for by seller. Seller can also contribute to a down payment assistance charity and fund that as well.
Net effect, you get in the door or the earnest money check.
* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
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