When you buy a home, you will pay "closing costs" in addition to the down payment. These costs include the "points" you pay on your mortgage loan, title and hazard insurance, the title search, legal fees, and other charges imposed by the lender. These charges vary by state and county, but they usually represent a considerable amount of money.

Your real estate agent can tell you about the closing costs in your area. Ask your agent for some general figures when you begin your search for a new home, and use this information as a guideline. When you apply for your loan, the lender is required to provide you with a "good faith" estimate of the closing costs. The lender's good faith estimate is usually close to the actual amount, since the sales contract will have the price and terms of your new home spelled out. As the closing approaches, your real estate agent will give you a final figure for the check that you will bring to the closing table.

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Lori Cotter
Coldwell Banker Residential Brokerage
55 N Main St.
East Longmeadow, MA 01028
413-348-9259
Fax: 413-525-1288
lori.Cotter@NeMoves.com

Buying and selling your home involves some of the most important decisions that your family will ever make. My goal is to provide you with the best tools possible so that you are well informed and confident. I am a Top Producing Real Estate Agent with Masters Degrees in Finance and Accounting and certifications in Relocation and Negotiating. I will guarantee that you are receiving the best guidance possible. Let's make your Real Estate dreams come true!

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