Gustan Cho Associates's video: How to negotiate your closing costs

1. What is included in the closing cost? * As mentioned earlier, it is rather difficult to know the exact amount a buyer or homeowner needs to cover closing costs. This is not like coming up with a down payment on a home like the FHA requiring a 3.5% down payment on home purchases Conventional loans requiring a 5% down payment to buy a home Closing costs range from 2% to 6% of the value of your home The large range of closing costs is due to each city, county, state where the property is located has different fees and costs Closing costs also depend on the type of property * Shopping in a condominium has higher closing costs than shopping in a single family home. 2. What if I cannot identify the closing costs? * Many first-time home buyers have a limited ability to make a down payment on a home purchase. FHA loans require a 3.5% down payment on home purchases Conventional loans require a down payment of 3% for first-time home buyers and 5% for seasoned home buyers Most home buyers don't have to worry about going out of pocket due to closing costs This is because most home sellers give home buyers relief from home buyers' closing costs * If the seller is unwilling to compromise, lenders can make a loan to the home buyer to cover the borrower's closing costs. Read more https://gustancho.com/what-are-closing-costs * You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response. Or write to us at gcho@loancabin.com. We are available 7 days a week, in the evening, on weekends and holidays. * CHECK IF YOU QUALIFY: www.gustancho.com/fast-quote ***** Follow me ***** on Social Media 1. https://www.facebook.com/TheGustanChoTeam/ 2. https://www.facebook.com/alexcarlucciMortgage/ 3. https://www.instagram.com/gustanchoas... Be sure to subscribe for more: https://www.youtube.com/c/GustanChoAssociates ALEX CARLUCCI - SVP Mortgage Banker, NMLS # 229891 ALEX STATE LICENSES: - Alabama - Colorado - 100511536 - Florida - LO40799 - Illinois - 031.0026265 - Indiana - 38913 - Michigan - 229891 - Mississippi - Pennsylvania - 72654 - Tennessee - 200345 COMPANY ALL-STATE LICENSES: - Alabama, California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Texas , Ohio All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Loan Cabin, Inc. and GCA does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Loan Cabin, Inc.. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Copyright © 2021 - Gustan Cho Associates NMLS 873293, DBA of Loan Cabin Inc. NMLS 165732 Address: 1910 S Highland Ave, Suite 300 Lombard, IL 60148 How to negotiate your closing costs, closing costs, costs, negotiate closing costs