Oct
24
Does banks give me home loan without any closing cost ?
By
I am a first time home buyer with excellent fico score. Loan amount is around 175K.
1)Can banks give me a home loan with lower mortgage interest rate and ZERO closing costs ?
2) On average how much does the closing cost be ? sale price 220K and loan amount is 175K ?
Quick House Sale
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3 Comments
October 28th, 2009 at 12:32 am
You can’t avoid closing costs.
Title search, inspections, etc.
Your real estate agent can give some idea of the amounts.
October 28th, 2009 at 6:03 am
Closing costs are always present. Who pays for what is negotiated between the seller and buyer, not with the lender.
October 29th, 2009 at 12:12 pm
All loans have some closing costs. There are some loans that have a smaller amount. But the Bank is required by law to have a flood search, credit bureau, appraisal, etc… Which the bank will pass these costs to you. You can require the seller to pay all your closing costs in your offer to purchase. Check with your bank to find out if they place a dollar limit on how much a seller is allowed to pay.