How can I save on closing costs?

Experience shows that closing costs, average 2 to 3 percent of the home purchase price. Ways to save include:  * Negotiate with the seller to pay all or part of the closing costs.  * Obtain a no-point loan. The trade-off is a higher interest rate on the loan and many of these loans have prepayment penalties.  * Get a no-fee loan. Typically these fees are wrapped into a higher interest rate though it will save you on the amount of cash you need upfront.  And most importantly,  * Shop around for the best loan deal. Each direct lender and each mortgage brokerage has his or her own fee structure. Call around before submitting your final loan application.

This entry was posted on Friday, April 5th, 2013 at 12:32 am and is filed under Buying a Home, Selling a Home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.