Closing costs are often overlooked... and can be expensive! Have you figured in that 2%-6% of the purchase price in other costs due at closing?
Consider these 4 tips to minimize closing costs:
1) Shop around. Lenders charge fees, but some charge more than others. The same goes for title and settlement services. Compare companies and choose one that fits your needs - and cash flow - best.
2) Negotiate. Sometimes buyers' closing costs can be negotiated to be paid in full or part by the seller of the property. That's something a knowledgeable agent can help with - put that compromising power to work!
3) Research. Some lenders offer a "No closing costs" mortgage that can help you get into a home without paying wads of cash up front. These costs are usually wrapped into the loan balance.
4) Double-check. When your lender provides the loan estimate form, locate the "Services You Can Shop For" section. These fees include a title search, survey, and other inspections, and sometimes shopping around can save you some money.
Call Paul at 680-3333 today with questions or concerns about a typical real estate transaction and to discover your new home!