One of the major goals of any home purchase is to get the most value for your dollar. When it comes to buying a home or refinancing your existing mortgage loan, it’s important to understand and prepare for expenses associated with the transaction. In addition to any potential downpayment, you will also need to factor in closing costs. These closing costs can sometimes get lost in the quest to find the perfect house, or get the best mortgage rate.
What are my closing costs?
Why do I have closing costs?
How can I avoid closing costs?
How are closing costs different from “prepaid” items?
Are all questions that will be answered in this section of the Mass Mortgage Buddy.