Part of our mission here at CharlestonMortgagePlace.com is to help educate our clients about the real estate transaction process. Many people searching for a mortgage and especially first time buyers are trying to take advantage of low mortgage rates and federal and state housing programs. Our closing cost estimator is a simple itemized calculator that gives buyers a good idea on what kind of out of pocket expenses they should expect when buying a home.
Prior to signing your loan documents you will get exact amounts of all your costs in a document call the “HUD”. You can read more about the HUD http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/sc3secta
Please keep in mind that this is a quick estimate and based on averages. Your closings costs will vary and your Mortgage Broker can guide you to more exact answers for your closing costs. Please use this guide to help you in planning and seek our advice early in the process of home buying if possible.
Still want to know more about Closing Costs and the process of buying a home? You can visit the US Department of Housing and Urban Development on the subject: “Buying Your Home: Settlement Costs and Information“. They also have a booklet available that we have posted for easy download: