By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
85209.com85209.com85209.com
Notification Show More
Font ResizerAa
  • Live Local
    • Eat Local
    • Local Events
    • Shop Local
  • Mesa News
  • Real Estate
  • School News
  • Podcast Episodes
  • Search Homes
  • Sell My Home
  • Cash Offer for My Home
Reading: Don’t Forget to Budget for Closing Costs
Share
Font ResizerAa
85209.com85209.com
  • Live Local
  • Mesa News
  • Real Estate
  • School News
  • Podcast Episodes
  • Search Homes
  • Sell My Home
  • Cash Offer for My Home
Search
  • Live Local
    • Eat Local
    • Local Events
    • Shop Local
  • Mesa News
  • Real Estate
  • School News
  • Podcast Episodes
  • Search Homes
  • Sell My Home
  • Cash Offer for My Home
Have an existing account? Sign In
Follow US
85209.com > Blog > Real Estate > Don’t Forget to Budget for Closing Costs
Real Estate

Don’t Forget to Budget for Closing Costs

Klaus Team
Last updated: May 17, 2021 10:00 am
Klaus Team Published May 17, 2021
Share
SHARE

Contents
What Are Closing Costs?Bottom Line You might also enjoy reading…

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important.

What Are Closing Costs?

According to Trulia:

“When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”

For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned above, closing costs are typically between 2% and 5% of your purchase price. 

Trulia gives more great advice, explaining:

“There will be lots of paperwork in front of you on closing day, and not enough time to read them all. Work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time.

The most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You’ll get this form about three days before closing since, once you (the borrower) sign it, there’s a three-day waiting period before you can sign the mortgage loan docs. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your real estate agent is a great resource for getting you all the answers you need.”

Bottom Line

As home prices are rising and more buyers are finding themselves competing in bidding wars, it’s more important than ever to make sure your plan includes budgeting for closing costs. Let’s connect to be sure you have everything you need to land your dream home.

You might also enjoy reading…

You Might Also Like

The Truth About Newly Built Homes and Today’s Market

The Risks of Selling Your House on Your Own

What You Need To Know if You’re Thinking About Building a Home

3 Reasons To Move in Today’s Shifting Market

Rising Inventory Means This Spring Could Be Your Moment

Share This Article
Facebook Twitter Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Social Medias
Facebook Like
Twitter Follow
Youtube Subscribe
Telegram Follow
Popular News
Real Estate

Why a Foreclosure Wave Isn’t on the Horizon

July 23, 2024
The Great Wealth Transfer: A New Era of Opportunity
What’s Causing Ongoing Home Price Appreciation?
How an Agent Helps Market Your House
Avoid the Rental Trap in 2023
- Advertisement -
Ad imageAd image

About US

Your Community Connection
We provide local resources to our community to educate, support, and make our community stronger. Your Community Connection is a service of Klaus Team Real Estate Solutions with Real Broker. Equal Housing Opportunity.

Subscribe

Subscribe to our newsletter to get local news, market updates, and open houses in the community sent to your email.

 

Subscribe to Your Community Connection Newsletter

* indicates required
© Klaus Team Real Estate Solutions. All Rights Reserved.
Welcome Back!

Sign in to your account