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Monica Said:

Who and where i can find the lowest closing costs on refinancing a mortgage?

We Answered:

Look up Atlantic Bancorp of CA..or Atlantic Bancorp of America..they may have changed their name. But I've been closing deals with them for 3 years. They're pretty great. You can look at www.atlanticloan.com

Kyle Said:

What are closing costs on mortgage question..?

We Answered:

Some of the costs include things like title searches, fees to record a deed, appraisal fees, credit check expenses, homeowner's insurance and mortgage insurance. Other fees are also included, such as a loan application fee.


There are many closing costs involved in real estate purchases, which may not be limited to those mentioned.

You can do more research on closing costs by doing a web search.

Sheila Said:

How much for closing costs with no mortgage or loan?

We Answered:

It's whatever you negotiate. Personally, for an all cash offer, I would have the seller pay for everything.

Regards

Michele Said:

how does closing costs affect my mortgage,and is there a down side to buying points?

We Answered:

depends on your needs... if you buy points and plan to pay it off in the very short term you are wasting your money... if you plan on paying a 30 year term it is probably well worth your money... talk to your mortgage lender... if they dont give you an answer that you can live with i would suggest trying a different lender....

Marc Said:

Are Mortgage Closing Costs Out of Pocket?

We Answered:

Usually they are paid by the buyer.

However, there are several things that can be done:

1. get the seller to pay them. Depending on the loan program, they can pay 3% to 6% of the sales price.

2. if the seller will not pay, then you can increase the price of the house by the closing amount and the seller can them pay them. the 3% to 6% rule still applies. However, appraisals may be a problem.

3. You can also get a no closing cost loan via the lender. You will pay a little higher interest rate, but no out of pocket closing costs for you.

EDIT: mom of 2 is WRONG. Lenders don't just roll your closing into the price of the house.

Tom Said:

can i roll the closing costs into my mortgage?

We Answered:

The seller can pay up to 6% of your closing costs. All your agent has to do is write that into your purchase offer. You will still be required to bring the 3.5% down payment to close, though, which will be $3150 on a 90k sales price.

Harvey Said:

Do other western nations allow homeowners to deduct mortgage costs for their homes?

We Answered:

in australia you cannot deduct costs from your residential home on your tax

however, if you own additional properties you are allowed to deduct costs from your tax. this is known as negative gearing. the intention is to encourage people to invest in building properties that can be placed on the rental market. unfortunately most negatively geared properties are not newly built properties so the actual effect is to increase the price of housing because people get tax breaks if they own multiple properties

hence, housing has become very expensive in australian cities