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Don’t Forget to Budget for Closing Costs

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  David Deem 714-997-3486 Dave@DeemTeam.com When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a  down payment  is the main cost that comes to mind for many, but budgeting for the  closing costs  required to get a mortgage is just as important. What Are Closing Costs? According to  Trulia : “ When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home,  and can include title insurance, origination fees, underwriting fees, document preparation fees, and more .” For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned above,  closing costs are typically between 2% and 5% of your purchase price.   Trulia  gives more great advice, explaining: ...