Today, the settlement statement has a new name – it’s the Closing Disclosure. Either way, the statement itemizes the cost of closing on your loan. It includes all charges from the lender, third parties, and all prepaid expenses, such as interest, taxes, and insurance.Get Matched with a Lender, Read more
Creative Ways to Cover Closing Costs
Closing costs can cost anywhere from 2 to 5 percent of the loan amount. That’s a significant amount of money, especially when you are buying a home and need a down payment as well. While depleting your savings account might be the easiest way to pay these costs, it’s not the most recommended. What Read more
The Top Ways to Get a Seller to Pay Closing Costs
When you buy a house, you have a lot more to pay for than the down payment. The closing costs alone can cost up to 5% of the loan amount. If you have a $200,000 loan, you may need as much as $10,000 more than your down payment. Sometimes sellers can help you with those closing costs, but how do you Read more
What’s the Cost of a VA Loan Refinance?
If you have a VA loan and you want to refinance it, you have a few options. If you want to stick with a VA loan, you can refinance with the VA IRRRL (streamline refinance program) or the VA cash-out program. The VA cash-out loan allows you to take money out of the equity of your home – up to Read more
How Much Does a Home Inspection Cost?
Most lenders don’t require a home inspection, but it’s highly recommended so that you know what you are buying. Just because your lender requires an appraisal, doesn’t mean you’ll know if something is wrong with the home. The appraiser’s job is to determine the home’s value to allow the lender to Read more
