According to a survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.
After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.
“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”
Closing costs are typically between 2 and 5% of your purchase price.
Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
Having an experienced real estate team behind you will ensure you are never caught off guard. The Red Sign Team will guide you through the entire process and make sure you know everyting to expect. So save the surprises for your birthday. Let the Red Sign Team get you into your dream home completely UNsurprised!