Everyone appreciates the advantages of owning a home: you enjoy tax benefits, you can decorate and customize however you like, and you become part of the community once you’re settled. However, when it comes to the home buying process, there’s one thing nobody likes: surprises. Partnering with someone you trust and who knows the local market will absolutely reduce the chances of unexpected events, but if you are further along in the process and your closing costs are more than you expected, here are three possible reasons why.
Your lender should provide you with a loan estimate, but keep in mind it’s exactly that – an estimate of what to expect. The government allows some of these fees to be higher than estimated on the day of settlement. You want to choose a lender who is experienced, knows the local market, and someone that makes you feel confident that the estimated fees are accurate to the best of their knowledge.
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