How Do I Calculate Closing Costs ?  

How Do I Calculate Closing Costs ?

When it comes to closing costs, many people who take mortgage do not know what all adds up to these costs. However, knowing what closing costs involve and how to calculate them will give you a clear picture on how expensive a loan is. More...

Can You Deduct Closing Costs On Your Taxes ?

Can You Deduct Closing Costs On Your Taxes ?

If you have taken a mortgage to purchase a home, you can avail a lot of benefits where your taxes are concerned. While many people know that they can deduct interest and taxes levied on real estate from their income tax, many are not aware that certain closing costs can also be deducted from their taxes.

However, it is important to note that not all closing costs can be deducted from the taxes and hence, a person should know which costs can be used. More...

What Percentage Are Closing Costs On A Mortgage ?

What Percentage Are Closing Costs On A Mortgage ?

The closing costs are based on the amount of mortgage a person takes. Usually, it has been seen that the percentage of closing cost is around 3 to 6 percent of the total mortgage amount. However, this percentage can be brought down with careful negotiation.

All lenders levy closing costs, but the amount varies from one lender to the next. Different costs are included in closing costs and it is best to get an itemized estimate of the costs before you sign on the dotted line. This way you will not be in for a surprise when you have to pay this cost upfront to close the mortgage. More...

How To Save Money On Closing Costs ?

How To Save Money On Closing Costs ?

When you are looking for a mortgage, you will have to pay closing costs to get the mortgage through. While some of the costs are fixed and cannot be negotiated, there are others that can be. This can help you reduce the overall closing costs and you can save money.

So, how to save money on closing costs? There are many ways to do this, and some of them are highlighted below:More...

Who Pays Closing Costs ?

Who Pays Closing Costs ?

If you are taking a mortgage to buy a new house, you will definitely want to know who pays the closing costs for the mortgage. Unfortunately, there is no fixed rule as to who pays the costs. This depends on the market and the location. Also, different states and cities have different requirements. For instance, in Los Angeles, the title insurance costs are paid by the seller, whereas in San Francisco the buyer has to bear the burden. Hence, who pays the closing costs is not uniform across the US. More...

What Closing Costs Can Be Negotiated When Refinancing A Mortgage ?

What Closing Costs Can Be Negotiated When Refinancing A Mortgage ?

Usually people refinance their mortgage when they want a lower interest rate. However, even when refinancing, a person would still have to pay closing costs for the new loan. The good news is that when a person refinances a mortgage, there are some closing costs that can be negotiated to bring down the overall cost. More...

 

 

    
 

Real Estate 101 :

How Much Are Closing Costs For A Refinance ?       When people realize that they are paying a high interest on their mortgage, they can opt for refinance to bring down the monthly payments that they make on the mortgage. This can help to save thousands of dollars which would have otherwise gone in paying the interest. Usually, a refinance should only be done after checking the interest rate and the closing costs. Only if the interest rate is low and you do not pay too much for closing costs should you opt to refinance the mortgage. More..

 


 

 

 
   
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