Closing Costs

Hi everyone,

Could someone please tell me how I can calculate closing costs on a $140,000 property?

Thanks,

Steven Logreira

Comments(4)

schallerp3rd September, 2003

How about approximately 4.5% for conventional loan, and 8.5% for hard money loans....
Stockpro993rd September, 2003

HOw about calling a local realtor and asking what they use for a rough estimate? That way you will be specific to your area.

Here they aer about 1k cheaper than they were in Salt Lake.
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mdeboard4th September, 2003

Don't contact a Realtor - contact a local mortgage lender. In order to get an accurate estimate of closing costs you will need to provide information regarding which side (buyer/seller) is responsible for what costs. In Florida the seller is typically only responsible for Onwer's Title and Documnetary Stamp on the Deed (a State tax), and of course any real estate commissions.
clear2close4th September, 2003

ditto in MD.
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