|
Term |
APR |
| 5 yr variable |
4.65 |
| 1 yr fixed |
5.50 |
| 3 yr fixed |
5.50 |
| 5 yr fixed |
5.79 |
| 10 yr fixed |
6.25 |
|
|
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In general, the closing costs amount to 1.5% to 2.0% of a home's purchase price.
This is a good guideline.
New homes may be a bit more involved.
In general the above guidelines generally hold, but be careful because the costs may be higher due to special circumstances or complexity.
Get a legal referral from a
family member or a friend
Other costs which can be involved in closing are:
- title insurance
- possible adjustments for property taxes, utilities and condo fees.
Again, they are generally included within the 1.5% to 2.0% figure but variance can
occur.
Talk to your lawyer to get all the details.
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