TheRibbonDiva's commentsComments On: EverythingArticles Blogs Journals Photos created by: EveryoneTheRibbonDiva Mortgage Borrower Cautions - Blog Entry18 Sep 2007 11:59 AM "Closing Costs" The term many Borrowers and Realtors simply don't understand! Contrary to popular belief, closing costs are not specific to a particular transaction. No matter what type of transaction, most closing costs are going to be of similar nature and will, in fact, be charged no matter what form they take. At Brentwood Mortgage Services, we like to inform the borrower at inception of ALL possible costs of any loan. Many banks and other mortgage companies like to roll these costs into higher interest rates and tell their customers "NO CLOSING COSTS". It simply doesn't work that way. All the following costs will be paid by the borrower in some way. Local, County and State taxes are formulas, based on the sales price or loan amount. The same is true of title charges. Whether in the form of higher rates or as a closing cost, borrowers may be assured they will be paying these costs. We like to have happy customers at the closing table and generally, with our Good Faith Estimates on the conservative side, they are happy. Look at this Closing Cost Page for a very comprehensive list of standard closing costs, approximate fees and formulas which you can use against sales price and loan amounts to arrive at a very "accurate" closing cost estimate. Visit BRENTWOOD MORTGAGE SERVICES for help! Or phone: (239) 659-1660 or (800) 330-0093. When you are ready, mention code 'WEB531' for $100 off your closing costs at Brentwood Mortgage Services. How a Kitchen Product Can Become Ribbon Storage - Blog Entry13 Sep 2007 02:58 PM This is an excellent idea. Being in the ribbon business I wish I had thought of this one. But I would need a colander the size of a small warehouse! :)) |
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