how much should closing cost be

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How much are closing costs? average closing costs on a mortgage loan is between 2%-5%. On a home with a purchase price of $200,000 the typical costs will be between $3,000-$5,000. These costs will vary depending on the lender you use.

The cost of a loan to the borrower, expressed as a percentage of the loan amount and paid over a specific period of time. Unlike an interest rate, the APR factors in charges or fees (such as mortgage insurance, most closing costs, discount points and loan origination fees) to reflect the total cost of the loan.

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Closing costs for sellers of real estate vary according to where you live, but as the seller you can expect to pay anywhere from 6% to 10% of the home’s sales price in closing costs at settlement.

myFICO mortgage cost calculator provides closing costs for your loan as well as loan offers from best-trusted lenders for your situation.

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The table below lists states alphabetically with their average closing costs. check your state for a detailed summary of average fees. Your final charges probably will be higher than shown here.

VA Loan Closing Costs, Unallowable Fees and Seller Concessions How much are closing costs? These are the fees paid that help facilitate the sale of a home typically total 2% to 7% of the home’s purchase price.

The cost of a loan to the borrower, expressed as a percentage of the loan amount and paid over a specific period of time. Unlike an interest rate, the APR factors in charges or fees (such as mortgage insurance, most closing costs, discount points and loan origination fees) to reflect the total cost of the loan.

 · how much would be the closing cost for a 400k house if I put on 5% down payment? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Nearly 10% of homeowners polled by Bankrate.com said they withdrew from their retirement savings to cover their down payment.

You should probably require your buyer to get mortgage pre-approval before entertaining paying buyers closing costs. For one, you won’t know what the costs are without seeing lender disclosures.