Closing costs are the fees you pay at the closing of your home loan. The amount will vary and includes a combination of appraisal, inspection, title, and administrative costs such as those from your loan officer or broker.
When you apply for a loan, you'll want to ask about the closing costs. It'll be a rough estimate and may come out to be even lower, but it's still a good idea to have a sense of what it will be. Also, keep in mind that closing costs are not "hidden fees." Our office prides itself on truth in lending, so if there is a fee you don't understand, please let us know.
We are here to help and want to you to feel confident about your choice in a mortgage lender.
Feeling good about your home loan also means getting a great deal! Here are a few ways that you can secure the best rate and lower your closing costs.
All of the tips may not be applicable in your situation, so we recommend contacting us for personalized closing cost help.
Raise Your Credit Score
If you've been researching loans for a while, then you're likely aware of the perks of good credit. The higher your credit score, the better your rate will be and the more room there is for negotiating some fees. It's worth taking the time to raise your credit score. Explore our blog for articles on how you can do it quickly.
Think Twice About Adding Closing Costs to the Loan
Including your closing costs in the loan will eliminate the immediate expenses. However, you'll end up paying more over the life of the loan --sometimes significantly more! So if your goal is to save money, pay for your closing costs up front instead of including them in your loan.
Ask The Seller
If you are purchasing a new property, you can ask the seller to pay for some of your closing costs. If you are already pre-approved for a loan, a motivated seller will be more willing to negotiate both price and closing costs.
Not pre-approved yet? Get started now! Visit our homepage to begin the process online.
Negotiate With Your Lender
We know what it takes to get you the right loan, with the best rate, but if there's anything more we can do, please let us know! Whether you are a current client or are shopping around for a new mortgage professional, we aim to exceed your expectations in service and value.
Ready to work with a lender that is looking out for your best interest? Contact us today!
Call us directly or use our online form anytime, 24 hours a day, to begin your loan application.