I am looking at buying a house, I am interested in what your guys closing costs were. I am getting my lawyer for free, but wondering what the average is for the rest. The house is going for around 95k, on Grand Island. Thanks.
should be between 750-1K.
Where ya buying at on the Island and I assume ya have a realtor already
we just closed it will be roughly 12% of the cost of the house. we closed roughly 9 weeks ago it came to about 10k on a 74k mortgage but with a seller concession it was rougly 5500 out of pocket for us.
That is ridiculously high.
My house was about $150k and I think closing was around $5k. Lawyer fee was only about $100… its the taxes and crap that will kill you.
Here is a calc. This is pretty accurate, even if you don’t know all of the variables.
http://calculators.aol.com/tools/aol/home09/tool.fcs
i just ended up paying about 3600 total on a 100k morgage but after concessions i tihnk my loan was for about 108-110k
I had to dish about 15k IIRC on a 160k mort that includes taxes, buying down the rate, and 5% down.
Closing costs including all the fees and taxes will be around 6 - 7k.
I believe ours was in the 3-4000 range, on a 84K house. Add the year of taxes ahead of time, insurance, and 5% down and it was way over $10k we had to pay out that day. The lawyer was even a dickcheese who would never answer the phone or return a phone call. It amazes me the transaction was even done at all, his paralegal handled the whole thing as far as I can tell. F-ing ridiculous if you ask me. Was it worth it? Still debating that one. I think after I move out of Buffalo it will be several years before I’m ready to go through the whole process again.
It all depends on the price of the house and if are you escrowing the taxes (must do this if putting less than 20% down)
Closing costs include, seperate from escrow:
Origination 400-500
Appraisal ~400
Underwriting Fee 295
Bank Attorney 400
Title Insurance - depends on $ of house
Recording Fee 150
Processing Fee 300
Tax Service Fee ~100
Floord Cert 20
NYS Mortgage Tax - depends on $ of house
I would have 3-5k set aside just to be safe…
If escrowing add in 1 year of taxes and 1 year of home owner’s ins.
When i bought my house on the island (same price range) i ended up paying about $1100 at closing. What most people dont realize is the taxes on the island, are really cheap compared to other areas. I paid $1200 a year after the STAR.
geeeez $122/yr. thats so low!
amherst has me at the balls at 3400 after STAR
On a 150k house it was about 12k for me. We asked for 6k in sellers concessions so we had to come up with about 6k at closing.
I hope that number included downpayment
A half a million dollar house(loan) should be about $10,000.
Some of you guys have some funky numbers, they can’t be correct.
I’m guessing the crazy high ones have a year of taxes and insurance escrowed in
^ some people are including taxes, insurance, down payment, and laywer fees into their closing costs. If that was the case, I just paid $30,000 for my other house in closing costs.
Yeah I included everything in mine as im not sure what everything was individually.
my $1100 in closing costs included taxes which werent much because i bought at the end of the year, insurance etc. alot of it depends how much concessions you ask for as well. i dont remember what mine was, but it was cosiderable.
that also doesn’t include other money dished out for lawyers, inspections, search & survey etc. all in all it was about $2k spent.
0 closing costs for working for the bank FTW