Real Estate Agent Directory
Real Estate Agent Directory & Consumer Guide
 
Alabama Montana
Alaska Nebraska
Arizona Nevada
Arkansas New Hampshire
California New Jersey
Colorado New Mexico
Connecticut New York
Delaware North Carolina
District of Columbia North Dakota
Florida Ohio
Georgia Oklahoma
Guam Oregon
Hawaii Pennsylvania
Idaho Puerto Rico
Illinois Rhode Island
Indiana South Carolina
Iowa South Dakota
Kansas Tennessee
Kentucky Texas
Louisiana Utah
Maine Vermont
Maryland Virgin Islands
Massachusetts Virginia
Michigan Washington
Minnesota West Virginia
Mississippi Wisconsin
Missouri Wyoming
 
Estimated Closing Costs
There is a federal law which requires mortgage lenders to give prospective buyers an itemized, "good-faith" estimate of their closing costs. Sometimes buyers arrive at the closing with this document firmly clutched against their chests, and proceed to question each item on the form that does not match perfectly.

These "good-faith" estimates are just that--estimates. The lender's charges will be fairly accurate, but the charges for attorneys, termite inspections, title insurance, and other items that appear on the closing sheet may be a little bit different. Some pro-rated items, such as taxes or homeowner's association fees, will also be different if you don't close on the date that was used to calculate the estimate. The purpose of the disclosure law is to give you a ball park figure of your closing costs. But the estimate you are given won't be to the penny--probably not even to the dollar!

 
© Online Real Estate Pro - Real Estate Agent Directory
Login Sign Up About Contact Privacy TOS / Use