If you’re trying to get a good deal on Kansas City mortgage rates, you may have heard that you can buy points on your mortgage. Essentially, you are “buying down” your mortgage rate. But is this the right move for you and when should you do it? [Read more…]
When you close on your home, you will be paying around 2 to 6 percent of the purchase price in closing costs, or fees paid to third parties for their services. Lenders are required by law to provide you with an estimate of how much these closing costs will cost you so you know what to expect. [Read more…]
When it comes to closing on your home, lenders are required to give you an estimate of how much your closing costs will be. Typically, home buyers will pay 2 to 6 percent of the purchase price of the home in closing costs and since closing costs are third party fees, they can be different from your estimate.
If you aren’t prepared, these costs can end up being more than you can handle. Depending on your situation, there are many options available to help you get closing cost assistance. [Read more…]
You know that after you have gotten a Kansas City mortgage, you will have to pay closing costs when the mortgage closes. However after you look at your statement, you notice that you seem to be paying more than closing costs. What are these additions?
Don’t panic! Simply put, prepaid items are future expenses related to the home that are paid in advance of the mortgage due date. They are also there to fund your escrow account and lower risks for both you and your lender. [Read more…]
Closing costs can add up quickly. Between recurring costs like mortgage insurance and non-recurring costs like lender fees, closing costs can end up setting you back just as you’re about to move into your new home. Luckily, there are several ways to reduce closing costs with your Kansas City mortgage company before your closing date arrives.
Shop Around For the Best Kanas City Mortgage Company
Not every Kansas City mortgage company gives the same rates or closing costs. There are several documents loan officers are required to provide when you apply for a loan that outline the approximate closing costs to expect, including:
These documents should give you some indication of rates while selecting for the best Kansas City mortgage company for you. [Read more…]