9 Ways To Avoid Closing Costs When Buying A Home
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- Опубліковано 2 чер 2024
- Closing costs are usually the last thing you want to pay when buying a home. We'll cover 9 ways you can cut down on closing costs so you can bring as little to the closing table as possible.
🎧 Listen To The Podcast
plinkhq.com/i/1493715474
0:29 Down payment vs closing costs
1:14 Closing costs won't dissapear
1:34 The most common strategy
3:12 How to shop lender costs
4:33 Saving costs on points
5:20 Wrap costs into the interest rate
6:41 Waiving escrows to save thousands
7:55 Shopping for homeowners insurance
8:29 Getting a gift
8:44 Closing at the end of the month
9:30 Getting an interest credit
10:10 Negotiating closing costs
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Hey, my name is Kyle and I'm a Loan Advisor serving Tennessee, Florida, and Ohio. I help you get a crystal-clear home loan so you can win the house you love.
www.winthehouseyoulove.com/
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Motto Mortgage Alliance
www.winthehouseyoulove.com/
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Equal Housing Opportunity
Timestamps!
0:29 Down payment vs closing costs
1:14 Closing costs won't dissapear
1:34 The most common strategy
3:12 How to shop lender costs
4:33 Saving costs on points
5:20 Wrap costs into the interest rate
6:41 Waiving escrows to save thousands
7:55 Shopping for homeowners insurance
8:29 Getting a gift
8:44 Closing at the end of the month
9:30 Getting an interest credit
10:10 Negotiating closing costs
🎧 Listen To The Podcast
plinkhq.com/i/1493715474
💰 7 Proven Ways To Save Thousands On Your Home
www.winthehouseyoulove.com/free
Not that I’m aware of! You should be good. Lenders normally are only concerned with the opposite: investment properties that are bought as a primary residence. If you end up living in the home, you most likely could refinance to a lower rate since it would now be owner occupied.
@@jagannathpursylhet2usa826 As long as you have a solid offer letter, you should be good to go
The value that you continue to bring to your channel. Awesome stuff! I closed on my home, watching and utilizing your in-depth videos every step of the way. I am very grateful, thank you! 😁
Thanks so much! Congratulations on your new home!!
Very informative. Thank you for this and your time.
Thanks for watching!
So when I get a loan for the house and let's say the house is 50,000. I tell the lender it's actually 55,000 and then ask the seller to give me back the 5k? I just want to make sure I understand it right. Thanks for the video and the tips! I appreciate it.
Great video! Thank you 🤍🤍
You’re welcome 😊
Awesome explanation!
Thanks for watching! :)
Great video!!! Learned so much.
Glad you enjoyed it! Thanks for watching. :)
Thank you for information great video
Thanks for watching. :)
Brotha you are the truth i just subscribed
Thanks for watching!
This guy is good really good. Thank you
Thanks for watching!
Thank you 🙏 didn’t think of these great savings!!
Thank you so much for watching!
Love love this.😊😊
Yay! Glad to hear!
I freakin love you! Thanks for the great info!
Happy to help!
Great Video...🤓❤️🏡🔥
Thanks 🔥
Dude I’m so glad that I found your channel. I’m about to level up and graduate college, and I know I want invest and own real estate. Almost every question I’ve had you address in your content! Thank you so much!
Ryno Throwton Thanks so much! What other videos can I make to be helpful for you?
Win The House You Love I’ve been looking at this property as an investment deal for awhile now, and I’m getting pretty close to being able to buy. Based on what I know now, an FHA 203k would be the best option for this deal. But if you made a video specifically about this product I think it would be so helpful for me. I appreciate you engaging with your audience!
@@RT710. Great feedback, I've been meaning to make a video on rehab loans here soon. My topic list keeps growing haha.
Win The House You Love hey that sounds good! You seem to be very thorough with your work and I appreciate it!
203k video, done: ua-cam.com/video/pZfBMNyuyLQ/v-deo.html
I was told my closing costs is going to be $50K. When my down payment will be$20K (3,5%) so bewildered by such high costs!
I understand how you feel, everything it getting expensive. I wish you luck!
Nice tips... want to cut costs wherever I can
Me too!
I love your videos
Thanks!
Great tips! Where is that watch from?
Thanks!
www.skagen.com/en-us/kristoffer-brown-leather-watch-skw6498
Kyle thank you for nice channel. You're the best at what you do explaining how things work in the mortgage industry. May I ask if a borrower can request an increase on the interest rate to avoid closing cost or is there a cap..
Thanks!
You absolutely can. Normally, interest rates have a cap somewhere around 5%. That's different with every lender though.
Ok, so they can buy up to 5 points in lender credits to receive cash back at closing assuming you meant 5% representing 5 points? I have a feeling I didn't phrase my question correctly
Stop eating. 1 meal every other day.
Sounds like intermittent fasting!
Lol
hey kyle question, Land transfer tax cost got calculated depends on how much percent/share you got on a property. For example I purchase with someone it cost $400k and we decide half and half. Only $200k get calculated on my land transfer tax, correct?
Hmm, well the transfer only applies to the transfer, not how many people are buying it.
So, how you split the cost between you two is up to you.
Who should pick the settlement company? What if in a comeptive situation the seller wants to pick this... is it a good idea for the buyer to agree? What should the buyer ask for and expect?
Normally, the buyer chooses the settlement company.
It's not a huge deal if the seller chooses the title company. Most title companies are incredibly similar on costs.
@@WinTheHouseYouLove thanks!
Good morning, I have a question. If I was to put my name on another person credit card will that help my credit when goin to apply for home loan?
I don’t have anything on my credit but want to build up so I can purchase a home next year. Thank you Kyle. 😃
It's very possible it could help increase your score!
So im in the middle of getting pre approved and realized im short about 25k in my account toward the down payment , but i have it in cash, is there anyway i can deposit it without getting in trouble?
That would be extremely difficult. Talk to your lender about the options you have
But will the home appraise for the extra 3,000 that that rolled into the home listing price?
That is the risk of that strategy
On my closing disclosure, which of these cost has to do with Enhansed title insurance cost? Closing fee, title abstract search, survey fee, lenders title ins cost, owners title ins cost, lenders title endorsements. I'm in Florida. Also, isn't the seller supposed to pay for all of this instead of the buyer? I'm a 1st time home buyer thanks for the great content.
You can shop for your title fees. The seller would only pay for it if it was negotiated in the contract.
I am a Real estate agent in South Florida , let me know if you need help to Find a house 😉🤗
as long as we have property taxes we will never own our homes
👍
How do I know if the lender is piling points without me knowing?
Section A, Page 2 of your Loan Estimate
Waiving escrow will makes your rate higher?
Not always
I wish you were my brother in law .
Haha that's specific!
😂😂
This is confusing.
What's confusing that I can clarify?