Answers to Frequently Asked Real Estate Questions Continued
What are closing costs?
Closing costs are the fees that must be paid in order to originate your loan, record and transfer title, and insure your deed. There may be other costs at or before closing includuing homeowners' insurance, a home inspection, termite inspection, etc. Talk with your lender - (s)he should be able to give you estimates of the various costs.
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Can the seller pay closing costs?
Usually the seller can/will pay closing costs if you negotiate this when you make the offer. However you must be sure your loan product allows this. It is important to clarify your underwriter's rules before submitting an offer. Each lending company has rules governing allowed closing costs and or concessions, so be sure to ask your loan officer.
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Should I make a large down payment?
The answer to this and other financial questions is peculiar to your circumstances and the economy at the time you're buying. The first thing to find out is "Does your credit allow you options?" If your credit allows a lower down payment you must decide if it is the best use of your funds. If you will need money in the near future for <continue>
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Do you have more questions? Call or email me any time
Jackie Martin, Realtor
email: Jackie[at]WeSellStLouis.com
We Sell St. Louis
3424 Missouri Ave.
St. Louis, MO 63118
office: 314-772-HOME (4663)
toll-free: 1-866-971-HOME (4663)
cell: 314-495-4428