| Building Stapleton, One Neighbor at a Time Diana Kearns, REALTOR, ABR, ASP. RE/MAX Alliance • 1873 S Bellaire St, Suite 700 • Denver, CO 80222 . | ||
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. Overall home financing costs to consider include:
Generally, closing costs (including prepaids) amount to between 3% and 7% of the home purchase price. The percentage depends on the region of the country in which you buy, the kind of mortgage you get and the time of the month you close. Prepaids must be collected at closing to cover the future month's taxes, interest and insurance. But the good news is most loan programs allow you to finance your other closing costs in the form of a slightly higher interest rate, reducing the amount of cash you will need at closing. Other loan programs allow some or all of the closing costs to be paid by the home seller or to come from other sources. Our Mortgage Partners can provide information on average closing-cost percentages for specific areas and loan programs. And, shortly after you apply for a home mortgage, you will be sent a good faith estimate which provides details on the approximate costs you will be required to pay at or before closing. While it is only an estimate, it can help you budget for your closing.
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Building Stapleton is a service of The Kearns Team and is not affiliated with Forest City Stapleton, Inc. or The Stapleton Development Corporation. Material for this website has been developed by The Kearns Team and obtained from Forest City Stapleton, Stapleton Builders, The Denver Metro Economic Development Corporation, the City and County of Denver, Denver Public Schools, and other sources. Material is deemed reliable but not guaranteed. © 2006-2008, The Kearns Team, LLC |