im closing on my home loan soon and my mortgage company sed my closing cost would be 800ish?

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but my attorney sed i will get back 1000ish thay are not the final cost just estimates the guy im buying the house from is paying 4000 at closing plus i gave them 1650 the house is 116000 what sounds right.

1 Comment
  1. Reply
    May 21, 2011 at 7:43 am

    I am trying to figure out your numbers.

    It could be that the “800ish” is the amount of money you will need to bring in to finalize the loan.

    That would mean your total closing costs and pre-paid expenses would be $ 6450. Sellers pays $ 4000, you already paid $ 1650 leaving you $ 800 left.

    If your closing costs and pre-paid expenses were actually $ 4650 and the seller pays $ 4000 and you deposited $ 1650, you would get a refund of about $ 1,000.

    With out knowing more details, those are my assumptions. Either one of those scenarios could be right. $ 6450 in costs seems a little on the high side, but not way out of alignment, as we do not know the property taxes in your area, transfer taxes or if you are buying down the rate at all.

    Best of luck,


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