How could I calculate the closing costs on an outright purchase?

Question

This would be a $2900 home, two thousand nine hundred. I would be paying cash. Anyone has any idea on how much they would cost in average. The house is in the State of Michigan.

Thanks in advance!

Answer 1

The closing costs are usually 3% to 5% of the loan, ask for the HUD-1 statement, your lender is required to give it to you by law before closing, the HUD-1 breaks down all the costs, this is a good article you should read on the closing costs, http://www.monitorbankrates.com/mortgage...