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baker1510 · Joined: 14 Jan 2010 Posts: 20 -0.91 Dollars($)

Should I roll debt and closing costs into my home mortgage?

smithsussane · Posted: Mon Jan 25, 2010 12:40 am Post subject:

Hi baker!

Welcome to forums!

You will have to speak to your lender about rolling your closing costs in the loan. There are chances that he would allow it. However, if you roll in your closing costs, you may have to pay higher monthly payments.

Feel free to ask if you've further queries.

Sussane

gmakerley · Posted: Mon Jan 25, 2010 11:56 am Post subject:

baker is this a purchase transaction you speak of? if so, you cannot roll costs in, unless you're getting a first time homebuyer program that allows for that. in ordinary circumstances, you won't be able to do it. actually, you are better off coming out of pocket with those expenses anyway, rather than pay interest on them for the next (potentially) 30 years.

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