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Over Half of All Buyers Are Surprised by Closing Costs
Speak with your lender and agent early and often to determine how much you'll be responsible for at closing. ..
“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.” - When To Buy A House?Bankrate.com recently gathered closing cost data from lenders in every state and Washington, D.C. to be able to share the average costs in each state. The map below was created using the closing costs on a $200,000 mortgage with a 20% down payment.
Keep in mind that if you are in the market for a home above this price range. your costs could be significantly more. According to Freddie Mac, “Closing costs are typically between 2 and 5% of your purchase price.”
