What are the “closing costs” when obtaining a mortgage?  There are a number of categories that fall under the closing cost umbrella.  The most common are loan fees, prepaid items, initial escrow, and down payment which will be discussed below.…

I hear this type of statement often, so I put together the following example to try and illustrate what that might look like.   Example Let’s say you have the opportunity to purchase a home for $700,000 putting 20% down.  That…