How much are your typical closing costs?
Your closing costs will vary depending on the size of your loan, the purchase price or property value, and the property’s location. Many lenders are not very clear as to what your closing costs will be. Although we can’t provide exact numbers, we can get a close estimate from the start.
Residential Home Funding Corp. will help you save on your closing costs by picking up the charges for the application, tax service, flood certification, and commitment fee. The other charges you are responsible for are any third party fees like the title and appraisal.
On a Refinance Transaction, there will be a full month of prepaid interest collected at the close of escrow. The result is that you will not have to make a mortgage payment the following month. Mortgage Payments are paid in arrears, which means when you pay your mortgage payment on the first of the month you are paying for the “previous” month interest charges.
Our goal is to provide you full disclosure of your closing costs before you spend any money and help you save some money along the way as well.