Questions To Ask Yourself

Closing costs are transaction costs charges in addition to the amount that you pay for a property. They are charges on top of the purchase price. For example, if you buy a home for 250,000, your purchase price typically will consist of your down payment and your new mortgage. However, added to this will be an additional amount for closing costs. Closing costs typically run 3 to 7 percent of the purchase price for the buyer, 7 to 10 percent for the seller. (Both buyer and seller have their own,...