This can change based on the purchase price of the homefor example if you’re looking at a house in Sonoma County, and the purchase price is $500,000 you can assume $10,000 for closing costs plus the down payment. When you buy a house down payment is always independent of the closing costs. In other words it’s a two cost piece your down payment that is the difference between the purchase price and the loan amount and then the closing cost fees.
Closing costs can typically very usually about 2% of the purchase price in most instances however if you’re looking to set up an impound account for taxes and insurance than 2 1/2 to 3% of the purchase price is a healthy barometer to use to figure out your total monies for closing costs.
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