Frequent Contributor
Student_Loans_Kill
Posts: 297
Registered: ‎02-12-2012
Closing cost estimation

‎09-01-2012 09:06 AM

How do I estimate closing cost. I already closed on my lot, and purchased it. I paid title insurance, and now have builders insurance on the lot,b ecause it's in my name I have to insure property.

What other cost will I have, and how do I estimate. Thank you in advance

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Frequent Contributor
germaine47
Posts: 305
Registered: ‎07-05-2011
Re: Closing cost estimation

‎09-01-2012 04:26 PM

Contract Sale Price:   119,500

 

Our Origination Charge           2239.39

Appraisal Fee                            375.00

Credit Report                               22.50

Flood Certification                        20.00

Homeowner's Insurance            708.54

Settlment or Closing Fee           700.00

owner's Title insurance              400.00

Lender's Title Insurance              50.00

Lender CPL                                 25.00

City/County tax/stamp               159.57

 

 

Total                                         4700.00

 

I ended up paying $1000.00 in earnest money and I got something like $483.00 back at the table the MB made a mistake and hired two attorneys but so she may have cheated me out of $450.00 because the Sellers basically took care of my closing cost.  My Realtor told me the truth about the Attorney fiasco, so pay close attention to your GFE and HUD1 statement.  I received my HUD1 statement at the closing table. 

 

 

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Established Member
mikki3398
Posts: 27
Registered: ‎05-30-2012
Re: Closing cost estimation

‎09-04-2012 07:17 PM

My real estate agent and LO have both said that closing costs average to be about 3%-4% of the loan, as least in my area.

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