Dale Bohannon - REALTOR - eXp Realty


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CLOSING COSTS: What closing costs can you expect to see on your selltelemt statement? When buying a home in the Tampa Bay area, there are 3 main categories of buyer costs relating to:  (1) lender fees, (2) title fees, and (3)  government fees. And when you are financing, the lender will require you to pre-pay some property taxes and home insurance.  Financing charges include fees for underwriting, credit report, credit monitoring, flood cert, and tax service.  FHA loans require paying a mortgage insurance premium at closing, while VA loans have a funding fee. Title fees include a closing fee, lender title policy, title endorsements, and charge to do a property survey if the owner does not have one. Government fees include charges for recording the deed, state doc stamps on the mortgage note, and the intangible tax on the mortgage. Besides these costs, you will bring enough funds for the down-payment. Of course, the escrow deposit will be credited back to you, so that will reduce the amount your bring to closing. To see estimated amounts, check out the ESTIMATES tab once you find a home, and see the "Pay At Closing" section.  Here are example costs on a 300K home with 1.5% escrow deposit and 95% conventional loan...

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