In addition to the down payment and amount you are financing for the purchase of your home, there are also closing costs.

 

Closing costs are miscellaneous fees that are charged to you by the people involved with the sale of the house. These people typically include the lender and title company.

 

Closing costs will not be a surprise to you at the closing. Your lender will give you a Good Faith Estimate or GFE, which gives a rough estimate of what your closing costs will comprise of and the total.

 

Closing costs on average run about 2-5% the costs of the house.

 

Closing costs can include lender origination fees, discount points, private mortgage insurance, initial interest, lender's title insurance, property taxes, appraisal, attorney fees, title search fees, title insurance and recording fees.  

Blake Hanna, Realtor

225-298-6903

Blake@patwattam.com