You cant ask for better weather. Sunny, warm and in the middle of November. Bike ride around Sloan’s Lake provided these pics. Lots of new development from scrape offs surrounding the perimeter.
Thanks for visiting my site and if you happen to know of anyone looking to buy or sell Sloan’s Lake Homes or Denver real estate, please pass along my e-mail jay ATkey2denverhomes DOT com or my number - 303.475.1500
I was contacted yesterday by Melissa Conrad From HGTV‘s show “My First Place” They are looking for Denver renters who want to buy their first home and be filmed during the process. Its a win win for the buyers as they receive a great housewarming gift and access to designers and free expertise.
Hello Jay,
Call me when you get this because I would really like to talk to you about
the possibility of you and one of your clients being on our HGTV show “My
First Place”. We are looking for people in the Denver Metro Area that are
buying their very first home and want to share it on TV. It is great
publicity for you and they get a nice housewarming present out of it too. We will try to only follow them for 6 days through the whole process and we are going to need them to be in to their home around Christmas time if possible. I look forward to hearing from you and please send this application to any of your potential first time home buyers that you are working with.
Recently, I had the pleasure of working with one of Phil Leto’s referrals- Patti and Scott. They were a joy to work for and I hope to work with more couples just like them.
“Jay made our first home buying experience a positive one. Jay was very quick in finding out answers to our questions and concerns, and made us feel at ease, since buying a home can be quite stressful. Jay is a strong negotiator, and we felt confident having him representing us. Jay was very easy and pleasant to work with, and had a strong commitment to finding us the perfect home! Patti and Scott, Evergreen”
Most home buyers understand the basics of home mortgage loans. They know what a mortgage loan is, how interest works, and other fundamentals of the home loan process.
But when it comes to the closing costs associated with buying a home, many of these same home buyers get caught off guard – by both the variety and total amount of closing costs. By understanding and preparing for these costs ahead of time, you can avoid such surprises.
What Are Closing Costs?
Closing costs are the total cost of completing the transfer of ownership of a house. These costs do not include the purchase price of the home. Rather, they are the extras — fees and expenses aside from the purchase price.
On average, closing costs range between 3% and 5% of the total loan amount. So for a loan of $200,000, closing costs might run $6,000 to $10,000 (3% and 5% respectively of $200,000).
What’s Included Within Closing Costs?
Closing costs vary depending on where you live and what mortgage lender you choose. But closing costs often include fees for the following (this list is not all-inclusive):
* Loan origination
* Loan application
* Appraisal
* Document preparation
* Attorney’s services
* Escrow agent’s services
* Pest inspection
* Credit report / processing
Getting an Estimate of Closing Costs
The Real Estate Settlement Procedures Act, or RESPA, requires that mortgage lenders give you a good faith estimate of all the loan-related fees you’re likely to pay at closing. They must give you this estimate at the time of loan application. Keep in mind, however, that these are just estimates. Actual closing costs may be more than the good faith estimate closing costs.
Shop Around
It’s a good idea to obtain good faith estimates from multiple lenders. Don’t choose a lender based on their interest rates alone. Shop around for estimated closing costs as well.
Just realize that large discrepancies between estimated and actual closing costs are not uncommon. You can prepare yourself for this by having enough money in the bank to cover the good faith estimate amount and then some.
A few days before closing, you will receive another document called a settlement statement, or “HUD-1 statement.” This document will give you a more exact tally of the closing costs you’ll be expected to pay at closing.
Conclusion
Closing costs include a wide variety of fees and charges. They can add up to a sizable amount, so it’s important to prepare for them in advance. Be sure to factor closing costs into the equation when looking for a mortgage lender. Proper planning can help you avoid unpleasant surprises on closing day.
Professional Advice From HomeBuyingInstitute.com
Moving to Denver? Has your company asked you to move to the mile high city? Relocation buyers require special care, learning about the area, schools, commuting and finding the best neighborhood to suit your lifestyle. I can help you and your family with a relocation program custom tailored to your family’s needs. Call me today to take your first steps to moving to our great city.
