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Home : Buying and Selling : Closing Costs Buying or Selling Real Estate
Closing Costs Buying or Selling Real EstateDown Payment
Most lenders require at least 10% of the purchase price, though new programs are available for 3%-5% down. 100% financing can be found, but you credit must be excellent and PMI insurance will be required. Loan Origination Fee A lender’s fee for establishing a new loan. Government regulations allow only 1% origination fee on FHA or VA loans. Conventional loan fees can vary from -1 to 3+ points, plus other costs. A point is 1% of the loan. Appraisal Fee Fee paid to obtain an estimate of market value upon which the lender will base the loan amount. The cost is about $350-$1000. Non refundable. http://realestateworks.com/realblog/2008/06/closing-costs-buying-or-selling-real-estate/ 32 times read
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