WHEN BUYING A HOUSE, WHO PAYS CLOSING COSTS?
I know many buyers have been laser focused on improving their credit scores, and saving enough money for their downpayment, but one of the costs that is sometimes forgotten in the CLOSING COSTS!
Closing costs are fees that make up the cost of the loan. For example, it cost money to borrow money aka lender fees. Now that interest rates have risen, these fees can be equal to or more than your downpayment.
And if you are like many people, feeling rushed to buy before interest rates continue to rise, then here is a way that you can potentially maintain a strong offer while not having to bring more money to the table…
Hope this helps!
*This is a tip that works SOMETIMES. Please be sure your agent knows when it is appropriate to utilize this tip.