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Closing Costs?????
Hi, ladies! I have been MIA for a while, since I have been in the process of a move, living with MIL, and working (can't nest at work)...
But, I am wondering how much (ballpark, if you don't mind disclosing) you paid in closing costs. We close on our new home end of November, and our closing costs seem astronomical. We have to pay 8 months of our taxes up front for escrow, which is a LOT of $$! I wasn't expecting that. Anyway, due to that and all the other costs, are closing costs are nearly $10,000! To me, that seems ridiculous! We are using a friend of DH's, and he shops around for the best rate...I am thinking that there are fees in the closing costs for him, and that is how he gets paid. We are not paying for points to lower our rate, so that is not a cost. I don't get it. DH refuses to go with anyone else, but I think if we went directly to a bank we would eliminate some of the costs???? I don't know.
Re: Closing Costs?????
$10,000 sounds about right. Esp with 8 months of tax escrow. In addition you are paying for title insurance, half of the state tax stamps which are calculated at $15 per $1000 of the purchase price of the home, recording fees for your mtg and deed, L-chip fees which are $25 a piece for each mtg and deed that is recorded, wire fees, any application, appraisal, flood census fees, prepaid interest, credit report.
I'm sure you must have gotten a Disclosure sheet which estimated your closing costs. It should have been pretty close to the actual amount you are paying.
We are closing on a house on Monday and we are paying about $6,000.
Yeah, everything is listed on the disclosure, but I couldn't help but think I was missing something...it felt like we were being raked over the coals!!!
Thanks, ladies, for taking the time to respond. I'm still not happy about dishing out all that $$, but I feel better about it!
We bought our house in 04. We paid 3000 and the sellers gave us 3000 towards the closing costs.
When we bought our vacation home in Maine in 06 our closing costs were 11,000