About two-thirds of millennials, adults between the ages of 18-34, who plan to become Gulf Shores home buyers are largely unaware of closing costs, creating a form of "sticker shock" for the largest generation in history. The finding comes from a survey by ClosingCorp. Across all adult age categories, more than one-third of potential homeowners […]
5 Ways to Lower Mortgage Closing Costs
Mortgage closing costs have risen 6% over the past year, according to a recent Bankrate.com report — averaging $2,539 on a $200,000 loan. But mortgage closing costs aren't set in stone. Especially in today's market, you can definitely negotiate your origination and lender fees. It's like any other service. They have the power to give […]
Closing Costs When Buying a Gulf Shores Home
Closing costs are a list of charges you will have to pay on the closing date that is set for your Gulf Shores home. Many people are surprised at the additional costs over and above the price of the home. Closing costs will vary from area to area, but a good rule of thumb is […]
Mortgage Costs to Watch Out For
Faced with plunging property values and rising defaults, lenders are charging borrowers higher mortgage rates and adding fees. Not all of these added costs are set in stone, however. If you’re looking for a loan, vigilant shopping and a little haggling can go a long way toward landing a better deal. Here are some fees […]
What Closing Costs Mean To The Home Buyer
It is important that a home buyer understand all of the costs involved in purchasing a home. These costs go way beyond the purchase price. Inspections, fees, appraisals, and on and on and on…. the terminology used in real estate can be extremely confusing for home buyers. What’s more, who pays for these things is […]
Buying is Cheaper Than Renting in Most U.S. Cities
Home prices have taken such a beating and demand for rental units has increased so much that it’s now cheaper to buy a two-bedroom home than to rent one in most major U.S. cities. According to real estate web site Trulia, buying was cheaper than renting in 74% of the country’s 50 largest cities in […]
Mortgages: Closing Costs Are Rising
Mortgage closing costs are on the rise across the nation and are up 8.8% over the last twelve months. Origination and title fees on a $200,000 home loan average $4,070 nationally according to Bankrate Inc.’s 2011 Closing Costs Survey. Banks are requiring extra employment verification and the like to keep loans in shape for Fannie […]
Foreclosure Mess Highlights Value of Title Insurance
When homebuyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance. This moment is often profoundly irritating, mysterious and rushed – just like so much of the homebuying process. Lenders require buyers to have title insurance, but buyers are […]
Closing Costs: 4 Ways to Save
The interest rate on your home loan isn’t the only thing you need to be concerned with. It pays to negotiate on all your home loan terms. Closing costs for a home average 3% of the purchase price, and could go as high as 6% in higher-tax areas. Plus, you still have to come up […]
Which is Better for Home Sellers?
Which is Better for Home Sellers? If you’re trying to sell your home, you may find yourself asking the question, “Which is better, lowering the price of the home, or offering to pay some closing costs?” In short, there is no right or wrong answer to that question, it’s just a matter of which strategy […]