#ChickChat Episode 2- Closing Cost
Posted by Kristine McKinley on Thursday, February 10, 2022 at 12:11 AM
By Kristine McKinley / February 10, 2022
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On today's episode, we are going to talk about closing costs to the buyer, because this is something that not a lot of people talk about. Everybody knows what the closing costs of the sellers are, but buyers, you have your own set of closing costs too. You don't just have to come with a down payment. You actually have to come with your closing cost. So what we like to say, again, I'm not a lender... Oh, I just touched my mic [lol].
I'm not a lender, but what we can do is we can at least guide you. We like to say between 3% and 3.5% of the loan amount will be closing costs. So you need to have that on top of your down payment. Now, some people will say, "Well, my aunt twice removed cousin's sister got her closing costs paid for by the seller." Yes, that can happen, but only in certain markets. So just make sure that you come prepared, you have your down payment and your closing costs ready to go with your offer.
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