Preparing For Unexpected Homeowner Expenses Posted byTeam H&L Miami @Real Estate Empireon10/17/2018Whether you call it a "rainy day fund" or a "financial cushion", having some money set aside for
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s you search for a new home, it's always a good idea to factor in the closing costs so you can properly plan and manage your finances. In general, you can expect to pay 2-5% of the purchase price in closing costs, not including the down payment.
Closing costs can include the following:
20% of the purchase price depending on your qualifications and loan choice
Earnest Money Deposit
The money put down when a contract is written - it usually goes into an escrow account
Includes charges for loan processing, underwriting and preparation
Includes charges for insurance, title insurance, title search, appraisal fees and other inspections
Includes deed recording and state mortgage taxes
Escrow & Interest Fees
Include homeowner's insurance, loan interest, real estate taxes, home warranties and prepaid interest
Capital tax based on the estimated value of the property
Please do not hesitate to contact us when you are ready to take the next step. We look forward to assisting you!
Team H&L Miami
Team H&L Miami, Associate Realtors
Real Estate Empire (305) 592-1588
10200 NW 25th Street, Suite A-100
Team H&L Miami @ Real Estate Empire Group is a fast growing boutique Real Estate firm established in 2001. It began to revolutionize property sales as well as marketing through brokers, agents, and an....