• Are Elevators Becoming the Wave of the Future?

• Common Closing Costs For Buyers

• Credit Scores and How They Affect Your Mortgage

• Curb Appeals, What Does it all Mean?

• Eight Reasons for Sale By Owner's Need a Realtor

• Eight Ways to Improve Your Credit

• FAQ's about the Great Lakes

• Five Factors that Decide your Credit Score

• Five Property Tax Questions You Should Ask

• Five Things To Understand About Homeowners Insurance

• Five Ways to Speed Up The Sale of Your Home

• Glossary of Financial Terms

• How "Range Pricing" can help you Sell Your Home

• How to Appeal your Property Taxes

• How to Determine Your Debit to Income Ratio

• How to Estimate Property Taxes on Your New Home

• Inexpensive Home Fixes

• Moving Tips For Sellers

• Overcoming First Time Home Buyer Fears

• Private Mortgage Insurance (PMI)

• Passing The Home Inspection

• Seven Things you Should NOT do Before Purchasing a Home

• Seven Reasons to Own Your Own Home

• Should I Do a Bridge Loan?

• Tax Advantages on Rental Real Estate

• The Do's and Don'ts When Showing Your Home

• Ten Things A Lender Needs From You

• Ten Questions For Buyers to Ask The Home Inspector

• Ten Questions to Ask Your Condo Board

• Ten Questions to Ask Your Lender

• Ten Ways to Lower Homeowner Insurance Costs

• Ten Ways to Make Your Home Irresistible At An Open House

• Ten Ways to Winterize Your Home

• Ten Things to Take The Trauma Out of Home Buying

• Tips That Could Help Renters Become Homeowners

• Tips For Finding The Perfect Neighborhood

• Tips For Packing Like a Pro

• The Pros and Cons of Condos

• The Pros and Cons of Interest Only Mortgages

• Understanding Taxable Values

• Understanding Capital Gains in Real Estate

• What is a Mortgage Buydown?

• What Is Appraised Value?

• What is an ePRO

• What is an Accredited Buyers Representative (ABR)

• What is an Accredited Staging Professional (ASP)

• What the Buyers Home Inspection Should Cover

• What Buyers Should Not Overlook on the Final Walk Through

• Where Buyers Come From

• Why Basements Leak

• Why is My House Not Selling?

• Your New Home Wish List

• Selling In A Buyers Market

The lender must disclose a good faith estimate of all settlement

costs. A check to cover your closing costs will probably have to

be a cashier's check. The title company or other entity conducting

the closing will tell you the required amount for: 

* Downpayment 
* Loan origination fees 
* Points, or loan discount fees, you pay to receive a lower interest rate 
* Appraisal fee 
* Credit report 
* Private mortgage insurance premium 
* Insurance escrow for homeowners insurance, if being paid as part of the mortgage 
* Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you. 

* Deed recording fees 
* Title insurance policy premiums 
* Survey 
* Inspection fees-building inspection, termites, etc. 
* Notary fees 
* Prorations for your share of costs, such as utility bills and property taxes

A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.