Tag - closing costs

Who Pays Closing Costs on a Home?

Who pays for closing costs when you purchase a home or when you sell a home all depends on what type of loan the buyer is getting. First-time buyers are often shocked when they realize how much closing costs can actually be. Closing costs are the various fees, charges, and taxes to purchasing the property they can easily add up to thousands of dollars. Depending on the loan, some homebuyers can actually roll these fees into the purchase price of the home saving themselves thousands of dollars up front. But who typically pays these closing costs and where do [...]

The 4 Biggest Refinance Questions

You've heard about refinancing, you've seen Joe and Mary down the street pull out $20,000 for a kitchen remodel, which you know they didn't have in the bank and you're wondering if refinancing is a good option for you? As a loan officer, I've heard just about every question out there and these seem to be the four biggest. #1. How does refinancing actually work? Refinancing is not a modification of your existing loan but a completely new loan with new terms. If you took out a 30-year mortgage five years ago on your home and now you want to refinance to [...]

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