Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

2 Bumps

Closing costs

My DH and I have found a condo we want to buy. We plan to put down 5%. Now, we looked up the cost and it said the closing costs were about $3,350. Do we have to pay that at closing or it that amount added to the loan value?

Answer Question

Asked by Anonymous at 12:05 PM on Jun. 25, 2011 in Money & Work

Answers (4)
  • You can get it added to the loan, the actual amount will be based on the purchase price, the realtor fees and taxes.

    Answer by how_reb at 12:10 PM on Jun. 25, 2011

  • its depends on the lender..some do add the closing cost at the end of the loan or sometimes the seller will pay closing...when we sold our house we paid closing ....

    Answer by juju40 at 12:11 PM on Jun. 25, 2011

  • We were not allowed to add the closing costs to the loan, we had to have that AND the down payment at closing.

    Answer by slw123 at 5:50 PM on Jun. 25, 2011

  • Doesn't hurt to ask ~

    Answer by tasches at 6:22 PM on Jun. 27, 2011

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.