My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.

By Topics

0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)


Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)


Closing Costs: Highs, Lows, Averages

Contributed by mm | August 20, 2004 11:49 AM PST

If you have ever gone through the process of getting your mortgage refinanced, or simply getting a purchase loan, you already know that your bank can charge you a myriad of fees. If you haven't, take a look at my closing statement and you can understand how easy it is to get lost.

Bankrate's researchers did a pretty amazing job last year: they collected 306 good faith estimates, 6 from each state plus DC, and tabulated the range of the closing costs. The result is this featured article Closing Costs: Highs, Lows, Averages.

For the same $180,000 loan with 20% down payment, the total closing cost can be anywhere between $1,020 and $11,395. Of course, some of the costs are government fees (recording, taxes, etc.) which are out of control of lending institutions, but if you read line by line, you can get a feel of the game. For example, one lender can charge $55 for a credit report and another can charge merely $8.50. Is it more expensive to get a credit report from one state than another?

Some of my advices:

- Fees are negotiable. Many lenders will compete for your business, and you'd better let them know you care about closing cost as well as low rates.

- It helps to ask your lender to explain line by line. Differentiate fees paid to the lender from those paid to third parties and government.

- For fees paid to the lender, don't let your lender confuse you with different names of fees; they all benefit the lender, period. You may find out many loan officers cannot tell the difference between processing fee and underwriting fee. Open your mouth and ask for a discount.

- For third-party fees, it helps to compare similar items from other lenders. Also, your lender will still disclose to you (though most probably in a discreet way, like asking you to sign a paper) that the lender itself can still earn a kickback (or commission) of such fees.

Bottom line, closing costs are part of the equation. If you only focus on the lowest rate, your lender can take advantage of you by stuffing too much into your closing cost. Think holistically before signing on the dotted line.

This Post Has Received 31 Comments. Share Your Opinions Too.

Opair lvus Commented on May 30, 2017

nztibvOpics Commented on August 1, 2017

perdere peso 6 kg al mese senza dieta Lefogy 100 kg 80 kg-ig la dieta a lungo termine ma efficace Videó fogyás tanulságok tinédzsereknek Vélemények az almaecet karcsúsító kapszula 1 vércsoport diéta fogyás bere recensioni dieta a casa come fare un clistere per perdere peso a casa Ducane Angriff Tag Diät è possibile perdere peso solo facendo il jogging napján cardio fogyás 20 Kilogramm Übergewicht gyömbér citromos víz fogyás vélemények 10 nap a fehérje diéta Sie können Gewicht verlieren, wenn Sie etwas Gemüse essen wie viel Gewicht in 7 Tagen zu verlieren come fare una pancia piatta in un esercizio settimana storie di perdita di peso Beere für die Gewichtsabnahme genannt vomito, recensioni di perdita di peso che praticano quanto si può perdere su una dieta del riso effektive Gewichtsabnahme nach Kaiser Chakra Übergewicht la mia storia di perdita di peso in palestra come perdere peso py salute Kreml diéta és eredmények fotó kalória naponta fogyás für Gewichtsverlust juckende Dehnungsstreifen hogyan kell fogyni ajánlások fórum una ricetta per la perdita di peso con l'avena Jóga fogyás hatalom jóga come perdere peso in Lyashkov subito a casa per il video settimana hogyan kell fogyni 10 év otthon fogyás 25 képkocka ingyen online fogyni 1 hét és 3 kg amely hatásos a fogyás a medencében, vagy a tornaterem a fogyás Figurin Guida di dimagrimento come perdere peso con PCOS alacsony kalóriatartalmú diéta fogyás figura correzione Studio franchising Lade Abnehmen liegend wie Gewicht mit Hilfe von einer Woche bis zu 10 kg zu verlieren das Ergebnis einer flüssigen Nahrung für eine Woche Fungo Reishi e il suo utilizzo per la perdita di peso ABC-Diät für 50 Tage und die Ergebnisse der Bewertungen Dieta per 14 giorni grano saraceno libro sulla perdita di peso meno 60 Menu bambino con il sovrappeso Ferienorts Sunny Beach Diet recensioni Abtronic dimagranti különböző étrendek egy hétig Marina casa 2 perso peso prima e dopo le foto Hadd beszéljenek Andrei Malakhov a fogyás Tatiana Rybakova hogy lehet-e teherbe esni, ha túlsúlyos edzőm fogyókúra pro ingyenesen letölthető az Android ricette frullato di frutta frullatore per la perdita di peso hogyan kell fogyni gyorsan van egy fehérje dieta per un mese in cui si può buttare 20 kg Kábítószer fogyás gyermekek Kreml diéta hízik Astronauten Diät für 20 Tage 20 kg Diéta, amelynek tömege nem tér vissza krém testpakolásokat fogyás otthon Ich war von seiner Gewichtsverlust schockiert esercizio per il video uomini di perdita di peso Mode a nap az étrendben 1 karcsúsító meg az ábra titkok fogyás fórum fogyni szülés után fogyókúra nélkül cavolo dieta cetriolo

AlfredCaf Commented on September 14, 2017

[url=]buy colchicine online[/url] [url=]cipro buy online[/url] [url=]effexor online[/url]

MichaelNub Commented on September 15, 2017

[url=]Hydrochlorothiazide Visa[/url] [url=]cipro buy online[/url]

CharlesLiede Commented on September 16, 2017

[url=]cipro[/url] [url=]clonidine[/url] [url=]fluoxetine[/url]

MichaelNub Commented on September 25, 2017

[url=;Treatment]beconase treatment[/url] [url=]actos generic x[/url]

MichaelNub Commented on September 26, 2017

[url=]generic valtrex effectiveness[/url] [url=]digoxin 5 mg[/url] [url=]cospurim book about the feast of purim[/url] [url=]doxycycline for people[/url] [url=*ultram*online*us]buy ultram online us[/url] [url=,the,counter,scabies,treatment]over the counter scabies treatment[/url] [url=]prednisolone qualitest[/url] [url=;Hordeolum]erythromycin hordeolum[/url] [url=;azithromycin;500mg]cheap azithromycin 500mg[/url]

MichaelNub Commented on September 29, 2017

wh0cd693285 [url=]buy tofranil[/url] tofranil [url=]Generic Clomid[/url] clomid

MichaelNub Commented on September 29, 2017

wh0cd693285 [url=]visit website[/url] Medrol Pharmacy

MichaelNub Commented on September 30, 2017

wh0cd693285 [url=]Female Viagra[/url] female viagra [url=]buy lasuna[/url] buy lasuna [url=]antabuse medication[/url] purchase antabuse [url=]purchase amitriptyline[/url] visit this link

MichaelNub Commented on October 1, 2017

wh0cd693285 [url=]albenza[/url] ALBENZA

Brettlix Commented on October 1, 2017

wh0cd486295 [url=]abilify[/url] abilify medication [url=]buy clonidine[/url] clonidine for sleep in adults

Jamesjeobe Commented on November 9, 2017

venta de software autocad
autocad lite
autocad add on software
[url=]autocad electrical[/url]
autocad aia layer standards download

Travisaxiok Commented on November 10, 2017

belajar autocad 2011 download
auto cad
pat files for autocad download
[url=]autocad lt[/url]
cadkey to autocad

Bernardphede Commented on November 10, 2017

revit autocad software
autocad 2016
autocad community student
[url=]autocad electrical[/url]
autocad serial numbers

JeremyTix Commented on November 10, 2017

autocad design suite standard 2017 download
autodesk autocad
autocad 2011 for students
[url=]autocad 2016[/url]
autocad 2017 ita download

RonaldPak Commented on November 12, 2017

autocad lt 2013 serial number
autocad lt
buy autocad 2012 cheap
[url=]autocad 2014[/url]
autocad light student

EnriqueHit Commented on November 14, 2017

order cialis europe
cialis coupon
buy cheap viagra and cialis
[url=]cialis without a doctor's prescription[/url]
cheap genuine cialis

RandyjoIls Commented on November 15, 2017

onde posso comprar viagra sem receita medica
buy viagra
how to cut viagra pill in half
[url=]viagra buy[/url]
buy viagra uk over counter

WalterJenry Commented on November 17, 2017

buy cheap cialis super active
cialis without a doctor's prescription
cialis sale australia
[url=]cialis without a doctor[/url]
discount coupon for cialis

JamesTaumb Commented on November 17, 2017

buy cheap cialis line
cialis without doctor
order cialis phone
[url=]cialis without doctor[/url]
daily cialis discount

Josephbug Commented on November 18, 2017

generic cialis viagra online
viagra without a doctor prescription
buy online viagra ireland
[url=]viagra without a doctor prescription[/url]
how do you get viagra in canada

RobertTrurl Commented on November 19, 2017

age buy viagra
viagra without prescription
street prices of viagra
[url=]viagra without a doctor prescription[/url]
sildenafil - videnfil 50mg com 8 comprimidos

Ericklokek Commented on November 20, 2017

cialis how to buy
cialis price
cialis pills india
[url=]cialis prices[/url]
buy cialis from canadian pharmacy

Davidvot Commented on November 20, 2017

cheap generic cialis canada
cheap cialis online
cheap cialis and viagra
[url=]cialis cost[/url]
cheap cialis usa

JamesSer Commented on November 21, 2017

buy cialis amazon
cialis cheap
super cialis cheap
[url=]cialis prices[/url]
buy cialis online for cheap

Berthauphok Commented on November 21, 2017

internet payday loans
[url=]need money fast[/url]
need money now bad credit
loan market
[url=]bad credit unsecured loans[/url]
5000 dollar loan
unsecured loans online

Dannyphync Commented on November 21, 2017

lilly cialis pills
cialis cheap
cheap cialis tablets
[url=]cialis cheap[/url]
cialis generic cheapest

Scottcax Commented on November 21, 2017

cialis pills price
cialis price
cialis daily for sale
[url=]cialis price[/url]
cheapest canadian cialis

Donaldher Commented on November 22, 2017

overnight shipping generic viagra
viagra without a prescription
viagra no prescription online
[url=]viagra without a doctor prescription[/url]
viagra generico consegna veloce

VictorDox Commented on November 22, 2017

where to buy viagra singapore
viagra without doctor
cheap viagra with mastercard
[url=]viagra without a doctor prescription[/url]
can you just buy viagra

Add Your Comments

Remember personal information?

(It will take a few moments for your comment to be published. Please do not close the window until then.)

Read More ... 110 Posts In The Same Category

This page was last rebuilt at November 22, 2017 05:15 PM PST. (374 Words)



Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar


Copyright 2003-2014, All Rights Reserved. (Privacy Policy)