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Ad #: 417668

Home Mortgage Closing Costs

Viewed: 56 time(s)

Posted: 9/6/2021
Updated:
Expires: 3/7/2022

US : Tennessee > nashville
Nearby Cities
Zip: 37212

   

Buying a home covers a lot of upfront costs that need to be covered before you finalize your home. Among several costs, mortgage closing costs are one of the major factors to buy a home. If you are currently seeking to purchase a home in Tennessee, here are the charges regarding the home mortgage closing costs: Home Mortgage Closing Costs Include: ● Credit Report Fee ● Paperwork Processing Fee ● Lawyer Fees ● Home Inspection Fees ● Home Appraisal Fee ● Land Survey Fee ● Title Insurance and Search Fees ● Pest Inspection Fee ● City/County Recording Fees ● Mortgage Insurance ● A few months’ worths of property taxes ● Loan Application Fee How Much You Need to Pay in Home Mortgage Closing Costs? Well, you can expect to pay closing costs about 2-5% of the total amount of the final home sale. However, lenders are required to provide you an estimate of closing cost at the time of your loan application process. What is the Escrow Process in the Home Buying Process? If you are into the home buying process in Nashville, Tn, there comes an escrow process. An escrow is a legal arrangement, wherein a third party holds a sum of money or property until the fulfillment of the purchase agreement has been met. The purchase agreement includes a good faith deposit which is also termed earnest money. This deposit of money to the escrow company ensures that you are a serious buyer. Once the home purchase is successful, the deposit will be transferred as a part of the down payment amount. How much are Escrow Closing Costs? Well, you can expect to pay an escrow closing cost of around 1-2% of your home’s final price. When you are in the process of home buying, you are in escrow. Once you are done with the home buying process, you close the escrow and take ownership. If you are planning to buy a home in Nashville and the suburbs, Zivak Realty Group is one of the professional real estate companies that deals in home purchasing, selling, financing, and escrow process. Visit Zivak Group to know how we can assist in real estate transactions - www.zivakrealtygroup.com


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