Las Sendas Community In Mesa ArizonaHere is a quick little video I did showing the community of Las Sendas in Mesa ArizonaHere are some Las Sendas Home for Sale -!!!
6 Fees You Need To Be Aware Of When Buying A Home
Congratulations on taking a step toward home ownership but before you seal the deal let me share what most Real Estate Agents won't share with you.
Are you trying to guess what fees are you going to end up paying, do you want to know what they are, would you like to know if there is a way to avoid these fees? Then this ad article is just for you.
Please beware that when you buy a house you need money on hand for both the down payment and the closing costs. Closing costs are the various fees that are accrued during the buying of a house. The closing fees include things like:
The fee the lender charges for processing the loan for the home.
the fee for the paperwork charged by the title company.
Survey fees, fees for the local governmental office for recording the deed
Other miscellaneous fees that are required to seal the deal.
The fee amounts that one has when they close for a home depends on the house that was purchased. The range is usually from 1% to 8% of the house price. The normal fee range is between 2% and 3% on a house deal that is closing. These fees are significant and can add up if you put a down payment down also. It is recommended when you meet with a lender that they give you a ìGood Faith Estimateî before you even do anything.
This will give you a ballpark figure of what you can expect with all the fees that go into the buying the home process. It is the lender that will actually give you an accurate estimate of your closing costs based on a house you want to buy. Don't forget real estate practices and fees do vary state to state.
Where you will reside will determine the fees you pay in accordance with the laws of that state. You want to make sure you have a good broker to help you with the home buying process: including guiding you with the closing. If you have a bad or incompetent broker and the interest rates are way too high the bank will give your broker a kick back called a Yield Spread Premium. To avoid this you want to shop around for a deal that is suited for your needs.
If on the Good Faith Estimate you See a Yield Spread Premium you may want to negotiate or go elsewhere to see if you can get a better deal first. If for some reason you do not have enough money for the closing costs you can do what they call a ìRoll the costs into the Mortgageî. What this means actually is that the closing costs are added to the Mortgage. It is added to the monthly payments until it is paid off. This is good to do only if you are short on cash only after making your down payment.
P.S. Check with your lender and find out if there are any programs that you might be eligible for fees that can be waived.
Text "saulmendoza" to 623-777-3851 for more information.
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