A Word On Closing Costs

When figuring out how much you will need at the closing for your down payment, don't forget about the closing costs! As you might expect, these additional costs can add up significantly. Depending on the financing costs and the time of the month that you close, your actual closing costs may vary. Your realtor can give you an estimate of these costs, including your loan points, title search and insurance, attorneys' fees, and any transfer taxes or recording fees charged by your local government. There may also be property taxes, local association fees and home insurance that must be prepaid.  In other words, be knowledgeable of the closing process, and don't get caught short!