If you are planning to buy a house in Texas, 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 Texas, some specific items to expect on your closing costs include origination fees, processing fees, appraisal fees, survey fees, mortgage tax and closing attorney fees.
Closing costs in Texas can range between 1.25% to 2% of the total loan amount. But that amount can vary from one lender to another and from one state to another. Texas, being a high-cost state, you may want to get a real estate company that will 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. But the average closing costs could be around $6,225 for a $200,000 mortgage. The difference if you end up paying more or less is mainly caused by varying costs of origination points and survey.
For a comprehensive analysis of Texas closing costs for each county, please contact us and we will be sure to furnish you with the information. We can also help you find the best Texas mortgage loan lenders with the lowest closing costs. Alternatively, we can help you get a no-closing-cost loan. In that case, you won’t have to pay any upfront fees. And that means avoiding closing costs altogether.
Talk to us today, and we will help you save some money in the process of getting a new home.
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