Buyer’s Guide

Closing Time: How Much Will I Have to Pay?

If you’re getting a mortgage, your mortgage broker or bank will notify Team Tringali the amount of money (in the form of a cashier’s check or certified check) you need to bring to the closing table. There is typically only a day or two notice of the exact amount before the closing.

The balance of your down payment
“Points” on your mortgage, 1 point=1% of loan (usually tax deductible)
Loan origination fee
A few months’ worth of insurance, to go into an escrow account
You may have to pay mortgage insurance on your loan
You may also have to put money for property taxes into escrow
If you’re assuming the seller’s mortgage, there’s an assumption fee

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Copyright 2018 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 12/15/2018