Jul
26
Itemizing Closing cost question?
Filed Under noclosingcostrefinance | 2 Comments
If you are with a lender of a new build home and you use incentive money to pay closing cost can you use that as a tax write off?
Natalie
Jul
16
How do I know if the individual fees in the closing costs are fair? Where can I find the true cost?
Filed Under noclosingcostrefinance | 4 Comments
Jul
15
Title Company will not give me my Tax money from the Seller in TX? for a real estate purchase closing cost?
Filed Under noclosingcostrefinance | 2 Comments
This is a weird situations
1. Seller is paying all of my closing cost
2. The Seller owes 5 months of Taxes
3. Im not Escrowing my Taxes
4. Apparently the Title Company will not give me the Tax money that is for the 5 months of Taxes they will only give me the money that I brought to the table which is the 1000.00 Earnest money and my application fee for the loan.
Does any one have any thoughts on this scenario or has anyone run into this before?
James
Jul
14
the mortgage app ask if I will be paying any portion of the downpayment or closing cost with borrowed money?
Filed Under noclosingcostrefinance | 5 Comments
Jul
13
Do I have to pay closing cost on a house? Or can I pay it in installments?
Filed Under noclosingcostrefinance | 7 Comments
Jul
9
Is the “administrative fee” closing cost on an FHA loan a junk fee?
Filed Under noclosingcostrefinance | 1 Comment
I recieved a good faith estimate for a first time buyer FHA loan. Is the admin fee a junk fee?
The loan amount is approx. $275k
Origination fee: $2700
Admin fee: $495
Doc prep fee: $100
Warehouse fee: $25 <--- what is this??
Total closing + title + prepaid items such as PMI, etc: $16,600
Is the total cost of all fees + prepaid items too high?
Allison
Jul
6
what would be the closing cost on a house the cost 122k in washington state?
Filed Under noclosingcostrefinance | 5 Comments
and also is there any benefits of buying a house that a bank owns compared to buying one from a regular person?
Alexis
Jul
2
When your buying a house can you ask for the closing cost and your downpayment from the sellers ?
Filed Under noclosingcostrefinance | 1 Comment
i live in virginia if that helps and the downpayment is 3% i found a house for 299,999 what do you think ?
Zoe
Jul
2
The Real Story Behind No Closing Cost Refinance
Filed Under noclosingcostrefinance | Comments Off
In finances there has been a great deal of competition and many lenders are trying to attract customers to their institutions. This has forced some creative folks to come up with a tempting offer for consumers to draw them into the banks.
One thing that you should be aware of when you are looking at these types of no closing cost refinance that nothing is really every free. You should know what the truth is behind these loans and how you can be informed so that you make the best decision about one of these products for you.
One of the problems with a no closing cost refinance is that you will save money on the closing costs, but the bank is often charging a much higher interest rate on the loan itself. Over time you will be paying back more to the bank than you ever saved on the closing costs.
This practice is completely legal and you will have to be sure that you know what you are getting into before you sign anything. It is up to the consumer to make sure that they are making the best financial decision for their no closing cost refinance. Don’t let anyone talk you into a refinancing deal that you have not thoroughly checked out.
Pay attention to the interest rates on a no closing cost refinance. All aspects of your loan should be thoroughly checked out to be sure that you are not paying more than you think you are. While a no closing cost refinance sounds like a great offer, you will have to look deeper into the details of the loan to make sure that you are paying the lowest possible interest rates.
Remember, you always have the ability to shop around for the best deal on your refinancing. There are many great offers out there for you, just make sure that you completely understand the deal that you are getting.