No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have a question about closing costs (that I really could ask my dad, but he's out of the country and I can't get a hold of him). We are preparing for round 2 of home offers, and currently we have an offer on a short sale that looks like it will go through. As soon as we have lender approval, we're going to start looking for financing (we are preapproved, and our circumstances are such that this shouldn't be a big deal)...probably an FHA loan, our down payment could vary between 5-20%, depending on what's cheapest in the long run after I run the numbers. Excellent credit.
My question is, I know in looking around for lenders they will give me a GFE. Once we choose the lender, when is the time to negotiate closing costs? Even if I negotiate them early, to numbers that are agreeable to us, what stops a lender from screwing us at the last minute? Who can I keep tabs on to make sure I don't all of a sudden need $3000 more at closing than anticipated? I know these are negotiable, I just am struggling with the timeline I guess. Any advice would be helpful, thanks!
You should have put in your closing costs request when you put in your offer on the house. By not putting it in writing the seller is expecting to get the price you put in for
@Anonymous wrote:I have a question about closing costs (that I really could ask my dad, but he's out of the country and I can't get a hold of him). We are preparing for round 2 of home offers, and currently we have an offer on a short sale that looks like it will go through. As soon as we have lender approval, we're going to start looking for financing (we are preapproved, and our circumstances are such that this shouldn't be a big deal)...probably an FHA loan, our down payment could vary between 5-20%, depending on what's cheapest in the long run after I run the numbers. Excellent credit.
My question is, I know in looking around for lenders they will give me a GFE. Once we choose the lender, when is the time to negotiate closing costs? Even if I negotiate them early, to numbers that are agreeable to us, what stops a lender from screwing us at the last minute? Who can I keep tabs on to make sure I don't all of a sudden need $3000 more at closing than anticipated? I know these are negotiable, I just am struggling with the timeline I guess. Any advice would be helpful, thanks!