U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Connecticut
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 01-19-2010, 04:50 AM
 
13 posts, read 14,252 times
Reputation: 12

Advertisements

I was wondering if any of the real estate agents, attorneys or anyone else could tell me what I should expect to spend for all my closing costs to buy a house in New Milford. I'm trying to figure out what we can afford to buy. Please EXCLUDE points on the mortgage as that will obviously depend on what type of mortgage we take out, our downpayment, etc.

(There's a good question: Should you pay for points to keep mortgage rate down? )

thanks
Quick reply to this message

 
Old 01-19-2010, 08:32 AM
 
Location: West End-Hartford
550 posts, read 1,205,518 times
Reputation: 335
For closing costs here are the buckets to look for (some of which are prepaid)...all are estimates

Appraisal $300-$400

Inspection $500-$1000 (on the higher end if you're doing a well and septic inspection, on the lower end if you're not, this also depends on the size of the house)

One year of homeowner's insurance, paid in advance and escrowed- really depends on the house, usually at least $1000

At least 6 months of escrowed taxes, usually plan for 9 months. If the town only collects taxes once a year, plan for 15+ months. I'm not sure what cycle New Milford collects on.

Attorney fee $500-$900- really depends on the attorney

Title search and title insurance policy for you and the lender- depends on the loan amount and the sale price of the house. A general rule of thumb I use is that it typically is between .32% and .44% of the sale price, the lower percentage being used for more expensive homes $1M+.

Recording fees, wiring fees, etc.- plan on another few hundred dollars.

Again, these are estimates but the buckets that are typically used. Your lender should be able to provide you with a good faith estimate that shows all of their costs and your estimated closing costs for the specific property you're interested in.
Quick reply to this message
 
Old 01-19-2010, 11:13 AM
 
13 posts, read 14,252 times
Reputation: 12
Thanks, appreciate the information
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Connecticut

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top