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Disclaimer: Beginning January 1, 2020, the VA funding fee will be changing to a range of 1.4% – 3.6% based on factors like your down payment or equity amount, your service status and whether this is a first or subsequent use of a VA loan.

When it comes to saving money to buy a home, you’ve probably been pretty focused on the down payment. But you’ll also need to plan for closing costs, which are due when your loan closes.

Understanding what closing costs are, how much they’ll cost on average and what’s included can help eliminate any unexpected financial obstacles when you close on your new home.

What Are Closing Costs?

Closing costs are fees paid to cover the costs required to finalize your mortgage when you’re buying or refinancing a home. Closing costs are paid at closing, the point in time when the title of the property is transferred to the buyer.

Most of the closing costs are paid by the buyer, but the seller typically will have a few to pay too, such as the real estate agent’s commission.

Lenders are required by law to provide a Loan Estimate within 3 days of receiving your application. The estimate provides a detailed list of what you can expect in closing costs.

How Much Are Closing Costs?

How much you’ll pay varies according to the amount of your loan and tax laws in your area.

Typically, closing costs average between 3% to 6% of the purchase price. So, if you’re buying a $300,000 house, you might pay between $9,000 and $18,000 in closing costs.

On average, buyers pay an estimated $3,700 in closing costs.

Most buyers pay closing costs as a one-time, out-of-pocket expense when closing their loan.

If you need help with closing costs, check with state or local housing agencies to find out what may be available. Many offer low-interest loan programs or grants for first-time buyers.

You’ll pay higher closing costs if you choose to buy discount points, but the trade-off is a lower interest rate on your loan

Calculating Closing Costs

Buyers can usually expect to pay about 5% of their purchase price in closing costs.

So, if you’re buying a home listed for $200,000, you can expect to pay $10,000 in closing costs.

To get a better idea of how much you might pay in closing costs, try using an online calculator, such as this one from SmartAsset.

What Do Closing Costs Include?

The closing costs you’ll pay will vary depending on where you’re buying your home, the home itself and the type of loan you pursue.

Closing costs may include appraisal fees, loan origination fees, discount points, title searches, credit report charges and more.

Property-Related Costs

  • Appraisal: This will be mandated by the lender to make sure the home is worth the sales price. Most appraisers charge $300 to $500 for their services.
  • Escrow fees: You may have to pay portions of property taxes and insurance upfront into an escrow account.
  • Flood certification: If your house is situated on or near a flood plain, your lender may require documentation confirming its status, which involves paying around $15 to $20 for a certification from the Federal Emergency Management Agency (FEMA).
  • Home inspection: Depending on the square footage and type of inspection, the buyer pays $500 to $1,000 for a home inspection to look for signs of damage and defects. This is nonrefundable money, and there’s no guarantee the seller will make repairs or renegotiate the sales price based on results of the inspection.
  • Property taxes: At closing, the buyer typically pays the city and county property taxes due from the date of closing through the end of the tax year.
  • Annual assessments: If you’re buying in a development with a homeowners association (HOA) that requires an annual fee, it may be due upfront at closing.

Loan-Related Costs

  • Title/attorney fees: This includes necessary government filing fees, escrow fees, notary fees and other expenses related to transferring the deed. The cost of title and attorney fees varies significantly from state to state.
  • Loan interest: You’ll need to pay interest on the loan prorated from the closing date to the first of the following month.
  • Lender fees: These cover items ranging from administrative costs to pulling your credit report to wire transfer fees. If a lender boasts unusually low rates, it’s possible they’ll try to make up the difference with additional lender fees, so be sure to compare apples to apples. Check out this video for an understanding of the difference between base mortgage rates and APR.
  • Application fee: This is charged by the lender and varies in price, up to $500. The application fee is nonrefundable, even if you aren’t approved for the loan.
  • Assumption fee: If you’re assuming a conventional loan from the seller, you’ll pay an assumption fee set by the lender, typically $800 to $1,000, or in some cases 1% of the loan amount. For FHA loans, the maximum allowed is $500, and for VA loans, the max is $300.
  • Prepaid interest: This is daily interest that accrues on the loan between the closing date and first monthly mortgage payment.
  • Loan origination fee: These are the fees paid to the lender to obtain a mortgage and are expressed as a percentage of the loan amount. If the loan amount is $100,000 and you see a $1,000 loan origination fee on the paperwork, the lender is charging one mortgage point.
  • Discount points: Discount points are fees paid directly to the lender by the buyer at closing in exchange for a reduced interest rate. This is also called “buying down the rate.” One point costs 1% of your mortgage amount (or $1,000 for every $100,000).
  • Title search fee: Paid to the title search company that researched the property’s history to make sure the title (ownership) will be “clear.” Typically this runs $75 to $100.

Other Insurance-Related Costs

  • Mortgage insurance application fee: If your down payment is less than 20%, the lender will require private mortgage insurance (PMI). This fee varies by lender.
  • Upfront mortgage insurance: PMI can be rolled into your monthly payments, but it can also be paid at closing. Paying upfront usually saves money.
  • FHA, VA and USDA fees: Fees on FHA, VA, and USDA loans differ from those charged on conventional loans. FHA loans require an upfront mortgage insurance premium (MIP) of 1.75% and a monthly fee. VA home loans require an upfront, one-time VA funding fee, determined by the loan amount, the buyer’s service history and other factors. VA home loan applicants can pay all or part of the fee in cash or roll it into the loan amount to reduce out-of-pocket expenses. USDA loans include an upfront guarantee fee of 1% and an annual fee of 0.35%.
  • Lender and owner title insurance: Lender policies protect the mortgage lender’s interest. Buyer policies protect the buyer’s interest. The average title insurance policy carries a one-time premium of about $1,000, paid by the buyer.

Closing Costs for the Buyer vs. Seller

The buyer typically pays the majority of closing costs. Of course, there’s always room to negotiate – but choose your battles wisely. A seller will likely be much more open to negotiation when presented with an offer of the full asking price or when it’s a buyer’s market.

Another option for these costs is to meet the seller halfway, dividing expenses between both parties.

Seller concessions are part of your closing costs that, instead of paying yourself, you negotiate to have the seller pay. Buyers might ask for concessions if they think they’ll have trouble covering their closing costs or if a home inspector finds issues that are going to cost money to fix.

It’s worth noting that concessions can help out the seller as well. If they are selling their home in a crowded market and aren’t having much luck, offering concessions can make the deal seem more attractive to potential buyers.

Are Closing Costs Negotiable?

The Loan Estimate will help you understand what closing costs to expect and which you may be able to lower. You should ask the lender about fees you may not understand or think could be lowered.

Lenders will schedule an independent appraisal by a qualified appraiser not affiliated with the lender or anyone else who’s part of the mortgage transaction.

There’s typically a set cost associated with appraisals based on the loan type and the area you’re in. However, other items like title insurance, pest inspection and the settlement agent may be open to negotiation. Of these fees, you’ll save the most on title insurance and settlement (which are sometimes combined). But if you’re planning to comparison shop for title and settlement, do so quickly because these services take time.

Also, watch for miscellaneous fees like funding and delivery fees. If the fees seem vague, you may be able to push back to have them lowered or eliminated.

Closing Your Loan

Your escrow officer, title company or real estate agent will let you know when your loan is scheduled to close.

Three days prior to the closing, you should receive your closing disclosure, which provides final details about your loan and closing costs. Compare these costs carefully to your Loan Estimate and make sure any changes you’ve agreed to with the seller are reflected in the final document.

On your closing day, you’ll need your state-issued photo ID and a certified or cashier’s check for the amount you owe. After you’ve signed all the documents and paid, your loan will be closed, and you’ll walk away with the keys to your new home!

Questions? Contact a Home Loan Expert today or give us a call at (800) 785-4788. You can also feel free to leave us a note in the comments below.

This Post Has 83 Comments

    1. Hi Karen:

      You should receive it no later than 3 business days prior to your closing. I’m going to get this to our team in case you are one of our clients. They’ll be able to get you more information.

  1. We agreed to a lock-in of 2.99% with ‘zero’ points. When the papers were rec’d, it indicated we had to pay 1.25%. We were never told this and only found it ourselves. When I inquired of our banker in indicated ‘Oh the rates went up.” Okay, fine. We didn’t like it but accepted it. We are now two weeks to closing and receive a RE-Disclosure statement at 7pm on Saturday evening stating that we have to come up with an add’l $5000 in closing costs to cover 3.69% in points.

    WHY???? We’re locked in at 1.25% and now this? And to notify us on a Saturday evening at 7:10 pm when Monday is a holiday – there is no one to talk to about this until Tuesday at the earliest.

    What a horrible way to do business. What’s going on??

    (David and Katherine) Quann

    1. Hi David and Katherine:

      I’m going to get this to our team to have someone reach out to you and talk about this. I can also tell you that we are open on Monday. Thank you for reaching out!

  2. I’m flabergasted. My closing costs are 19, 033 on a 229,000.00 loan. What is going on? Never was it mentioned I would be paying that kind of closing cost. What a rip off. Can a mortgage company honestly get away with this. I started the loan process on the 7 of July and still not closed out yet! What a horrible company to work with.

    1. Good morning, Susan:

      I’m going to get this to our Client Relations team to address your concerns and see if we can move your process along at the same time. Thank you for reaching out!

    2. Well I just started the process and I had not read all of these comments first. I hope all of you got your issues fixed and I hope I don’t have the same ones.
      As I read the one thing that jumped out was that there was a lot, A LOT, of responses that looked liked they were just copied and pasted.

      1. Hi Cinderella:

        I can assure you that every response is hand written. Some may be similar because you want to convey the same message. That message being that we understand the issues that the client is having, and we want to work with them to get it resolved as quickly as possible.

        That said, I’m going to get this in the hands of our team so that we can make sure you’re kept up to date and that your process goes as smoothly as possible.

  3. It looks like the problems we are having are pretty typical for the process through Rocket Mortgage. We are almost 3 months into our purchase and I have been blindsided by several things that were not disclosed to me. I guess they feel like I should already know the answers rather than them explaining the process to me. Our closing costs have skyrocketed to over $11,000 on a $75,000 home. Maybe when they came up with the name Rocket Mortgage they were referring to the closing costs.

    1. Hi Tony:

      I’m sorry to hear you’ve had a less than satisfactory experience. I’m going to get this to our team to see if we can look further into your situation and come up with alternatives for you. Thanks for reaching out!

    2. Yes their closing cost is as name rocket high.l try to refinance and being a existing customer still cost is high.i have refinance two times with ql./ Rocket mortgage.in 2014 no refinance charge and 2019 pay $500 for refinancing and now they big and business grow they asking for $4800. And since last month l apply for refinance not going anywhere.

      1. Hi Prabodh:

        While closing costs are dependent on a number of factors, we would be happy to take another look at options with you. I’m going to get this to our team and have someone reach out. Have a good day!

  4. We’ve been “in process” of refinancing since May 7!! We have had 7 interest rate disclosure documents, we’ve had to continually send payroll docs and bank statements and we are still not in “closing status” and it is Aug 29. We are beyond frustrated and try calling our “banker” and he doesn’t answer, our solutions specialist doesn’t have any reply other than the famous line, “we’re getting close to finalizing”. As I mentioned before we are frustrated! We’ve had numerous friends start the same process at the same time we did but with other financial institutions and they have since closed liked 4-6 weeks ago and we are still NOT CLOSED.
    If getting in contact with “real people” is this hard/nearly impossible then what kind of service are we to expect when we have to deal with you all when you start serving as our mortgage lender/owner?

    1. Hi Sherry:

      I’m going to make sure to get this to our team so that we can have someone look into this. I’m sorry your experience has been less than satisfactory.

  5. I’m using a broker but they It’s thru quicken loans trying to refinance from what I just read on it my closing costs are way high 9000 dollars the loan amount is 115,00 I only owe 107,00 something doesn’t seem right not happy

    1. Hi Deborah:

      We would be happy to look into your situation. Closing costs are very often dependent on the loan option, but we can certainly take another look. Thanks for reaching out!

  6. I just went online to chat w/Quicken, and could not even get my questions answered w/o giving them all my information. I could fill out all the information online. When I refused to agree to having someone phone me, suddenly the chat ended. I am now not interested in dealing w/this organization!

    1. Hi C:

      I understand your viewpoint and I’m going to get this to our team. I will tell you that we do need certain information in order to answer your questions accurately because this is based on your financial situation, but I do understand your feelings. Thanks for reaching out!

  7. Looking to
    Lower my interest rate, consolidate and pay off my homeowners loan and put my closing costs into my new mortgage payment if rate is good, can you help with this !

    1. Hi Nancy:

      You’ve come to the right place and we can certainly help you look into your options. If you want to get started online, you can do so through Rocket Mortgage or give us a call at (888) 980-6716.

  8. I am currently trying to get a loan through you all. We were supposed to close on Monday, but I was just informed yesterday that the 16th will be the earliest due to QuickenLoans failing to retrieve documents in a timely manner. Now I don’t even know if we will be able to close at all, because they also just informed me yesterday that condo budgeting was insufficient, but have failed to provide any documentation to show/explain what they are talking about. My husband and I happen to know the man that is the head of the HOA at the condo complex we are interested in, and the data he has looks perfect.

    Also, every time I receive my estimated loan document, my closing costs change drastically. They were supposed to be around 5,000 on the high end, but have never been lower than 7,000 and have been as high as 11,000- this is for a $127,300 loan. No idea what’s going on there.

    1. Hi Haley:

      We certainly strive to communicate better, and I apologize for your experience. I’m going to get this to our team to make sure you get the proper explanation. I can tell you that there are fairly strict guidelines around the budget for a condo complex, so we should be able to let you know what exactly the issue is. Thanks for reaching out!

  9. I was working towards a refi with Quicken and had to put it off, probably until summer, because of my kid’s change in college plans.

    I was offered a loan I was on the edge of completing through you guys, though, and it was going to be 10% closing costs (for a 100,000 refi). That does not jibe with this article at all. What’s up with that?

    1. Hi John:

      The costs represented in this article are average ranges. That being said, we would love to take a look at your situation. I’m going to get this to our team!

    1. Hi Phyllis:

      You do have the option of taking a lender credit in order to avoid paying for closing costs. In exchange, the rate on the mortgage is a little bit higher. If you would like to get started, you can do so online through Rocket Mortgage or speak with one of our Home Loan Experts at (888) 980-6716.

      1. Contacted rocket for ref 150k. Rep seemed ok at first. Offered possibility and a lenders credit. Had taken all my info on a 30 min call. Then demanded for my agreement to close now. I asked to receive info in email or mail. Rep became a used car salesman. Put my back to the wall that this was an immediate now only deal. Could not be done again! That wa s s threat for sure. Not ethical not safe to continue. A friend then told me rocket will RAPE customers. Don’t do it. So I am still shopping.

        1. Hi Laurel:

          We never want our clients to feel pushed into anything. I’m going to get this to our team to look into this. We appreciate you reaching out!

  10. Hello! I am a Realtor and would love to share this article, Understanding the Closing Costs for Your Mortgage, with my clients! Would you happen to have this exact wording in print form?

    1. Hi Gina:

      I would be happy to make something printable and send it your way via email. If you’re interested, we also have other resources available for real estate agents through our Agent Relations portal. Have a wonderful day!

  11. I will like to have an estimate for refinance FHA loan in to conventional loan to get out of my PIM, no closing cost,Thanks in advance.

    1. Hi Miguel:

      We can certainly help you look into your options. I see you’ve worked with us before. I recommend reaching out to one of our Home Loan Experts at (888) 980-6716 to go over your personal situation and see how we can help you moving forward. Thank you very much!

  12. I’m a 2 weeks out from close two things I wish I would of known as I was comparing lenders:
    Prepaid Items: currently 12 months of property tax is listed (8k) with quicken (I have a call into my loan specialist) . On my past 2 houses purchased this was never a cost at close.

    The 4 months of property taxes for escrow is separate … I have no idea why quicken needs 16 months of propert taxes 🤷🏻‍♀️. Apparently this is an item you could NEGOTIATE.

    2 when your 1st payment is due typical it is the 1st of the month following a 30 day waiting period (you close on 1/25, your 1st payment is 3/1). Quicken you pay interest till the current month then the payment is due (you close on 1/25 payment due 2/1).

    Both of these can cost you and should be discussed before you choose your lender. I wish I would of. I thought these 2 things were standard since my last 2 loans were with well known banks.

    1. Hi Chris:

      I’m going to have someone from our Client Relations team reach out to look into your experience. Every situation is different when it comes to taxes. You do need some money to set up the escrow account, but we can check into your situation. They’ll also be able to go over the other issue. Thanks for reaching out and have a good day!

  13. My loan is 105,000 but I had to pay over 10,000 for Closing cost. It’s 10% of loan amount, not 3-6%. Please check it.

    1. Hi Xuan:

      The closing cost estimates in this article are based on an average range. They’re not representative of every loan situation. Policies may also vary by lender. Thanks for reaching out!

        1. Hi P.:

          There are a lot of factors that go into closing costs and the amounts listed in this article are merely meant to be averages to give people an idea of what they might expect to budget for. That’s not to say that everyone’s situation is the same. Every lender structures their closing costs a little differently. Additionally, they may be in a high-cost state or have costs specific to a certain loan option.

  14. I was charged an appraisal fee by Quicken prior to starting attorney review but when I went to hire a lawyer he told me that it is against NJ law for a mortgage company to collect an appraisal deposit prior to attorney review. Is this true?

    1. Hi Rosie:

      I’m going to go ahead and get this to our Client Relations team. I can tell you that your deposit can be used toward closing costs in general. Thanks for reaching out!

  15. Hello its so unfortunate that the people behind the scenes selling me refinance never once mentioned this site to me so that i could tweek my loan estimate. Im need to keep faith that today things will be resolved with my final loan numbers a discrepancy olf 1092 bucks lost on tthe loan mumbers. Can someone call me ? Olga

    1. Hi Olga:

      This article isn’t meant for making tweaks to your loan estimate, but instead to give you a ballpark idea of what you might pay for at closing and what it might cost. Everyone’s loan is different. That said, I’m going to go ahead and have someone reach out. I’m also removing your phone number because this is a public website.

  16. I don’t understand why my closing cost is $18,000.00. Also why do the sellers have to pay the closing cost? Please explain. Thank You

    1. Hi Anna:

      While sellers may pay for certain closing costs, that’s something that’s negotiable between buyer and seller. As far as your personal closing cost, I see you working with us, so I’m going to have someone reach out to explain how things are currently structured and go over any options we may need to discuss before your loan closes.

      1. Did not address why the seller has to pay closing cost.
        Any why do organizations charge for a credit check? Every consumer in the USA has free access to their credit report. Ripping Off.

        1. Hi Taylor:

          The seller doesn’t necessarily have to pay closing cost. Everything can be negotiated, at least in theory. However, sellers pay certain things based on the customs of the local market. For example, sellers are usually the ones that end up paying for the commission of the real estate agent.

          While you can get a free credit check online, what you’re getting is only from one bureau. It’s also a VantageScore. While that formula is a great one and well understood, most lenders rely on FICO because that formula is long-standing and very standardized. FICO is used in one form or another by all the major mortgage investors. You pay a fee through the lender for the credit report because they get a version that shows your median score and all the information that all three bureaus have related to financial history. While you’re correct that you can get versions of your credit report for free, you typically only get it from one bureau. If you wanted to see all three bureaus, you can only get that for free once per year. One of the ways the credit bureaus make money is to charge lenders to get your report and this fee is often passed on. I hope this helps!

    1. Hi Darby:

      I’m going to have someone reach out, but a variety of factors can impact your rate including your credit score, the amount of your down payment and the number of prepaid interest points you’ve paid among others. Here’s an article that breaks it down.

  17. My refinance estimate came back with 2.8% in points for origination charges and a total of $7,000 at closing. This is outrageous. I was told you can come down on points if the interest rate raises, but my interest rate is already high.

    1. Hi Chris:

      I see that you’re working with us, so I’m going to have someone go ahead and reach out to go over your situation and but for any potential opportunities. That being said, there are many factors that affect both your closing costs and your rate. The number of points you have is just one of those factors.

      Thanks,
      Kevin Graham

  18. My loan number is In your “Here’s How Your Numbers Work”, Under items you own at closing.” You list under Loan Costs $5,557,72. This seems very high and may be inaccurate. I have already issued checks to the listing agency of $500. Another check to Quicken Loans for $500 for an appraisal fee. I have also issued a check to Integrity Home Inspections for $450.00. What other fees am I being charged by Quicken Loans to make the Loan Cost (D) $5,557.72. Does this figure include my FHA down payment of 3.75%? Or are there other hidden fees and what exactly are they? Also, what exactly are my prepaids & Escrows (F&G) They seem rather high. Finally why am I paying $521.00 for Other (H)? What Other fee am I paying? Am I being nickeled and dimed. Please be very specific in your explanations at $5,557.72 seems very high on a $77,600 home purchase. Is there any flexibility in these payments, as I am a repeat Quicken Loans mortgage customer?

    1. Hi James:

      It’s not our intention to hide fees from you. Every situation is different, and there are some details in here that are very specific to your personal situation. I’m going to get this to our client relations team so someone can reach out and give you a full explanation.

      Thanks,
      Kevin

      1. I am having the same issue, i just received my loan estimate and i am being asked to pay $7151 at closing on a $72000 loan. Your website states 2-5% is the rate for closing fees. Why am i being asked to pay over 10%, this is insane.

        1. Hi Christopher:

          Every situation is different, and closing costs vary. I’m going to have someone reach out to give you a full explanation of any fees and go over your options. Thanks for reaching out!

    2. Wish some of these issues were explained online so we could all know. I’m sure it would be easier than calling everyone who reads this. 🙂

      1. Hi Kenneth:

        When it’s general information, we will explain here. The problem with the lending process is that everyone’s situation is different and to give a definitive answer, a lot of the time, the only good way is to get on the phone or in a chat with someone and talk it out. Different states also have different regulations, so we want them to talk to someone who is licensed to give them advice in their state. The trade-off is that we sometimes can’t say as much publicly. I totally understand where you’re coming from, but that’s why we answer some of these things the way we do. Have a good day!

  19. Hi,
    I have a question for you, if I have $40k to purchase a home with a 20% down, on a fix rate loan and would like to borrow more money for a 350, 000 home – only having 40K down, can this be done, without getting another type of loan that its not the 30 year fix conventional loan?

    Thank you,
    Jesus

    1. Hi Jesus:

      This can absolutely be done. You don’t have to put down 20% to get a 30-year fixed conventional loan. The only thing to be aware of is that you’ll pay for mortgage insurance until you reach 20% equity. You can avoid a monthly mortgage insurance charge by taking a lender-paid mortgage insurance option like PMI Advantage. You take a slightly higher rate to avoid the monthly charge with these types of programs. Otherwise, you can pay for the mortgage insurance on a monthly basis yourself, but you can get a conventional loan with as little as 1% down if you wanted, so the down payment you have is fine.

      If you would like to look into your options, you can get preapproved online through Rocket Mortgage. If you’d rather get started over the phone, one of our Home Loan Experts would be happy to talk to you at (888) 980-6716. Hope this helps!

    1. Hi Becky:

      I’m going to send you an email to make sure you’re not working with us. I don’t see a record in our system based on your email address. That being said, I can say in general that costs on loans can change. However, once you get an official loan estimate, there are strict limits on how much they can go up. That does seem like a steep increase, but if you switched loan programs or the appraisal came back low and all of a sudden you didn’t actually have enough equity to refinance, then your closing costs might change like that. We would be happy to look in your situation if you call (888) 980-6716. Hope this helps a little!

      Thanks,
      Kevin

    2. I hope this is not typical because the same thing happened to me… what a coincidence… my quote went up 4K as well… I was quoted around 5K and now it shows 9K. I’m looking into it. Good luck.

      1. Hi David:

        I see that you’re working with us. I’m going to have someone reach out to go over your options and see if we can keep you on track.

        Thanks,
        Kevin Graham

    1. Hi Lynn:

      I’m going to have someone reach out to you about this. Have a great day!

      Thanks,
      Kevin Graham

    1. Hi John:

      We can definitely have someone reach out and help you look into your closing costs. They’ll be in touch.

      Thanks,
      Kevin Graham

  20. Hi can anyone please tell me when and to whom closing costs would be paid in a quicken loans Fha loan? Are they paid the day of closing or or they sent ahead prior to closing?

    1. Hi Brooklyn:

      I’m going to have someone reach out to you regarding our closing process and the way it works. They’ll be in contact.

      Thanks,
      Kevin Graham

    2. Do Purchase Money Mortgages from lending institutions allow for construction of a new home as well? My wife and I located a piece of property to buy. We plan to build a new home, and would like to consolidate the financing if possible. A co-worker told me that he purchased property upward of $125,000, followed by a purchase a modular home for $250,000, and his bank assigned a Partial Purchase Money Mortgage. He said the total sum of the mortgage borrowed was $375,000, $125,000 being purchase money, and the remainder being future advances. I am also told by others to consider a construction/ permanent loan, where the initial construction cost will cover the land purchase. I really need some guidance, thank you.
      Robert

      1. Hi Robert:

        We don’t do loans for new construction, unfortunately. Your questions would be better directed at a lender that specializes in this type of transaction. I don’t have any specific recommendations, but I would imagine a Google search might bring up plenty of results for these lenders.

        Thanks,
        Kevin Graham

          1. Hi Jason:

            Sorry we missed this one. That’s something you can certainly speak with one of our Home Loan Experts about. You can get in touch with them by filling out this form or calling (888) 980-6716.

            Thanks,
            Kevin Graham

  21. Why is there such a huge gap of costs for every closing cost charge.
    I guess this gives quicken the advantage & option of charging whatever they choose, which would most likely be the higher charge for the majority of services!
    If so, time to move on to another Lender!

    1. Good afternoon, Bonnie. We’d like to get some more details about your situation, so I’m going to have one of our Client Relations Specialists reach to you to get some more information.

  22. Where are the lender fees, I guess you don’t want to disclose it upfront for fear of driving away business. I bet it is not very competitive.

  23. […] Ahead of A new Loan App …Refinancing Student LoanSmart Couples Compare Car Insurance QuotesClosing Costs and Fees Explained.broken_link, a.broken_link { text-decoration: line-through; […]

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