#5 - How Much Are Closing Costs?

Your closing costs will be between 1 – 3% (of the purchase price) depending on the type of loan used.

The down payment isn’t the only cash-outlay you will incur when you purchase a home. Everyone that works on your transaction needs to get paid, so expect to pay for a notary, the appraisal, the title company fee and more.

These are known as “closing costs,” and the amount varies, depending on the transaction.

Your lender will send you an estimate after you are approved for the loan and then, using the same form, you will receive the final amount you will owe at closing.

Down Payment

Estimated Amount: depends on financing type. Ranging from 0 percent to 30 percent of the loan amount.

​The down payment is often the largest expense associated with purchasing a home. Different loan programs have different requirements for down payments as a percentage of the loan amount, ranging from 0 percent to 30 percent.

EMD (Earnest Money Deposit) 

Explanation of Closing Costs – CLICK HERE

Customary Fees Breakdown – CLICK HERE 

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