There are three components that make up the “costs” for every home loan closing: the down payment (or equity for refinances), closing costs, and prepaids. The Mortgage Down Payment (or equity) is determined by you, the borrower. The Closing Costs are the actual fees for the home loan and will vary depending on the purpose, product, and loan structure. The Mortgage Prepaids are primarily the costs of home ownership – like taxes, insurance, HOA, etc.. For a quick closing costs overview, there are links below that point you in the right direction and help address any questions you may have. As always, please call us when you’re ready to discuss details and review loan options specific to you.
Costs for Selling a Home