If you are planning to buy a house in Alabama, you’ve already heard about closing costs a number of times. Closing costs are the sum amount that your mortgage lender incurs when administering the loan to you. In Alabama, some specific items to expect on your closing costs include origination fees, processing fees, appraisal fees, survey fees, mortgage tax and closing attorney fees.
Alabama Closing Cost Calculator
Closing Cost Details
Down Payment / 20%
All information and results provided by this Closing Cost Calculator are estimates only. They will in no way accurately reflect actual closing costs. This calculator is to be used only to establish and estimate of closing costs. There are many unique factors that will affect the actual cost.
Total Closing Costs
Closing Cost & Fees
Escrow & Other Expenses
Total Due at Closing
Title Search & Lender Title Insurance
Attorney & Closing Fees
Loan Cost Totals
Government Recording Fee
Up Front Mortgage Insurance
Escrow Homeowners Insurance
Escrow Property Taxes (3 months)
Other Cost Totals
On average, closing costs in Alabama amount to an average of 2.5% of the total loan amount. But that varies from one lender to another and from one state to another. Alabama, being a high-cost state, you may want to get the help of a mortgage professional that can help you reduce the amount of closing costs as much as possible – like the Moreira Team.
Also, note that the total amount that you will pay largely depends on where your house is located. For instance, the average closing costs around Shelby County add up to $3,466 for a $200,000 mortgage. The same mortgage amount in Jefferson County may have you paying closing costs of $4,189. The main difference in cost is caused by varying costs of origination points and survey.
For a more detailed breakdown of Alabama closing costs for each county, please contact us and we will be sure to provide you more information. We can also help you find the best Alabama mortgage deal.
Talk to us today, and we will help you save some money in the process of getting a new home.
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