How Much Cash Will I Need at Closing?

Closing costs generally range from 2% to 3% of your loan amount. Closing costs are a combination of lender fees, third-party fess and pre-paid items..

The bank will provide you with an estimate of your closing costs soon after your application has been received. These estimates will change if you change the product type or loan amount. If this should occur, be sure to ask how the changes will impact your closing costs.

Be sure to ask your real estate agent about the possibility of negotiating that the sellers pay part or all of your closing costs.

Learn more about closing costs - Detailed explanation of the closing settlement sheet