If you are thinking about purchasing a home, make sure to account for closing costs.

Closing costs are the fees and expenses that you will pay at closing before becoming the legal owner. Depending on the purchase price of the home; costs can vary. Typically, closing closts include title services, appraisal fess, recording costs, taxes, underwriting fess and lender origination fees, just to name a few. Closing costs are typically 2% to 5% of the Total Purchase Price of a Home. For example, if the purchase price is $200,000, expect to pay between $2,000 and $10,000 in closing costs.

Not sure how or where to begin the process? Contact our office today. We would be happy to assist you and answer any questions that you might have in regards to the home buying process.

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Sources: NAR, NHAR, Bankrate, Freddie Mac