Being a buyer can be stressful. One of the more stressful times is when you get the final buyer's settlement statement and it outlines all of the fees, charges and prepaid expenses you are being charged to close on your new home.
These fees and charges range from your ALTA loan insurance policy, closing fee, loan closing fee, discount points, prepaid interest, 12-month insurance premium and on and on and on (kinda).
The fees, depending on the time of the month that you close can range from 1.5-2.5% of the loan amount. So, if your loan is 250,000, expect your closing costs to be somewhere in the range of $3,750 to $6,250.
Knowing this and what some of these fees and charges are prior to going to closing or getting the settlement statement emailed to you will relieve or minimize the stress you feel when you see the "Due From Buyer" number at the bottom of the page. Budget wisely and know what it takes to close on a home.
Good luck! If you have any questions, please let me know and I would be happy to do the best I can to help you.
If you have any questions about the real estate market in Fort Collins, whether that be investing, buying your personal home or selling, I would love to be of assistance and help you along the way.
Thank you for watching!
IG: patsouk_re
Email: patrick@soukuprealestate.com
website: www.soukuprealestate.com