Buyer’s Closing Costs
January 31, 2012 by wethmangroupadmin · Leave a Comment
Many buyers are aware that there are fees related to the purchase of a new home—a rough guide is 2.5% to 3% of the transaction value—but what are these fees, and are there ways to minimize them? First, a few clarifications. Both buyers and sellers have closing costs in a transaction. The sellers’ costs are [...]
Mortgage Rates Hit Historic Lows: Should I Refinance?
July 16, 2010 by Katie Wethman · Leave a Comment
Back in 2008, I wrote a blog post about refinancing, and given that rates are once again reaching (new) historic lows–in the 4.5% range for 30 year fixed money up to $729,750!–I thought it was time to revisit, and update, the post. When deciding whether to refinance, the best thing to do is calculate the [...]
FHA to cut Seller Contribution to Closing Costs to 3% of Sales Price
June 4, 2010 by Katie Wethman · Leave a Comment
Within the next few months, it’s going to get a little tougher for FHA buyers. Starting sometime this summer, FHA will make official its announced policy of limiting the seller contribution to buyer’s closing costs (aka “seller subsidy”) to 3% of the purchase price, down from 6%. What fees make up the buyer’s closing costs? [...]
