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Can you use a personal line of credit for closing costs down and fees to purchase a home?
Wiki User
∙ 11y ago
I used my line of credit for legal fees and partially for downpayment but the bank that I got my mortgage from was not aware of it as my line of credit was with a different financial institution
Wiki User
∙ 11y ago
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How much are the costs for closing?
As a rule, closing costs to buy a new home are about 2 to 4 percent of the purchase price. Closing costs are to pay for items such as inspections, recording fees, and title insurance policies.
How is it possible to refinance one's mortgage with no closing costs?
It is rare to have no closing costs but some banks and credit unions offer this as an incentive. One can check online or inquire at a local institution about whether a no closing cost option is available. Another popular option is to roll the closing costs into the new loan.
Why do you have to pay closing costs?
The closing associated with a real estate purchase or refinance involves many different costs including costs for legal services, title examination, title certification, recording fees, preparation of documents, obtaining releases for prior liens, etc. A closing is an expensive transaction and you must pay the costs involved in your closing.
What is the term for fees that must be paid to the lender before a check for purchase can be released?
closing costs
If you are approved for a 90 percent home loan and you have bad credit how can you get help with the other 10 percent and closing costs?
You can apply to a different bank for the remaining 10 percent and closing costs. However, you will most likely get the loan at a very high interest rate because of your bad credit.
Are There Any Up-Front Costs When Getting Cash Advance?
There are neither upfront costs or closing costs or application charges related to the cash advance application. The source of income is derived from the purchase of your future credit card transactions.
How much are the costs for closing?
As a rule, closing costs to buy a new home are about 2 to 4 percent of the purchase price. Closing costs are to pay for items such as inspections, recording fees, and title insurance policies.
Where can I find a company that allows a home lease agreement for a low closing rates?
A lease is a document that details a rental agreement for a property, whether that is a house, apartment, condo, office space, etc. Closing costs do not apply to a lease. Closing costs are the fees associated with the purchase of a home through a mortgage lender. A lease-purchase agreement might be set up with arrangements for closing costs. Closing costs are specific fees for specific services that are detailed at closing by the lender. It is not a "rate."
How is it possible to refinance one's mortgage with no closing costs?
It is rare to have no closing costs but some banks and credit unions offer this as an incentive. One can check online or inquire at a local institution about whether a no closing cost option is available. Another popular option is to roll the closing costs into the new loan.
Why do you have to pay closing costs?
The closing associated with a real estate purchase or refinance involves many different costs including costs for legal services, title examination, title certification, recording fees, preparation of documents, obtaining releases for prior liens, etc. A closing is an expensive transaction and you must pay the costs involved in your closing.
Is it legal for a buyer to request the seller who has offered credit for repairs to have a statement in the final paperwork indicating that the credit is for closing costs NOT repairs?
No how can it be leagel
What is the term for fees that must be paid to the lender before a check for purchase can be released?
closing costs
What is the term for fees that must be paid to the lender before a check for a purchase can be released?
closing costs
What is the difference between a no closing cost loan and a personal loan?
A no closing cost loan saves you from paying a lot of money up front with closing costs, however, you will have a higher interest rate. A personal loan requires no collateral for the loan.
If you are approved for a 90 percent home loan and you have bad credit how can you get help with the other 10 percent and closing costs?
You can apply to a different bank for the remaining 10 percent and closing costs. However, you will most likely get the loan at a very high interest rate because of your bad credit.
Which bad credit mortgage company offer a the lowest closing cost for a high mortgage?
Closing costs are often negotiable. Some are set at a specific fee. For years, closing costs have been scrutinized as duplication of fees and unnecessary expenses. so there has been an effort to lower them. More than just a quoted fee for closing costs, other fees must be considered that may be required but not included under the list of "closing costs." Responsible lenders make sure that applicants have the cash-on-hand to cover closing costs before approving a loan.
Can you use a credit card if you are buying a house?
A check or money order is usually required for down payment/closing costs.
