How much do closing costs usually run in Texas?
The vendor is contributing $2,700 plus paying for the survey and title, so how much (besides my insurance coverage) would I be out of pocket? I be 100% financed so near is no downpayment included any.
Answers:
It depends on your broker/bank. Closing costs can differ from broker to broker. In your initial application to the lender you shoudl enjoy recieved a Good Faith Estimate (or GFE) that breaks down ESTIMATED cost. Now, I highlighted "estimate" because it's simply that - a best guess.
Talk directly to your mortgage rep and ask them what your out-of-pocket will be. Most lenders allow some closing costs to be rolled into the loan, even in a 100% purchase.
Whatever your loan costs would be, possibly 2 months worth of taxes and insurance for one year. Typically it's 1-2% of purchase price.
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Answers:
It depends on your broker/bank. Closing costs can differ from broker to broker. In your initial application to the lender you shoudl enjoy recieved a Good Faith Estimate (or GFE) that breaks down ESTIMATED cost. Now, I highlighted "estimate" because it's simply that - a best guess.
Talk directly to your mortgage rep and ask them what your out-of-pocket will be. Most lenders allow some closing costs to be rolled into the loan, even in a 100% purchase.
Whatever your loan costs would be, possibly 2 months worth of taxes and insurance for one year. Typically it's 1-2% of purchase price.