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dbarras · Joined: 23 Mar 2010 Posts: 1 1.26 Dollars($)

Excluding the down payment, what is a rough idea of cash out of pocket due at signing. 80k mortgage
Thanks,
Dave

jenkin7 · Posted: Tue Mar 23, 2010 10:28 pm Post subject:

Hi Dave,

The closing costs will depend on your individual lender. Some lenders may agree to roll the closing costs in the mortgage and charge a higher rate of interest. However, given the current market situation rolling the closing costs into the mortgage could be difficult for you. You will have to pay the closing costs out of your pocket and the amount of money you will have come up with depends on your lender.

cagebird5 · Joined: 25 Mar 2010 Posts: 4 1.88 Dollars($)

It depends on the type of loan you are getting...FHA you will have to come up with 3% down payment, and a traditional is 20% out of pocket. You need to also find out if they are willing to roll in the closing cost to help you prevent having to pay so much out of pocket. Another cost is the appraisal, the home inspection, and I would also look for additional cost such as the title agency.
Good luck

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