This video is THE most helpful I've found on closing cost. Your videos are comprehensive and easy to understand so I've been binge watching haha. Thank you so much!
Hi Ms. Perfectly Imperfect, Thank you for watching and for your support! Your rock! Super happy you enjoyed this video. Buyer closing costs are often overlooked by many people with very little explanation of what constitutes buyer closing costs. Hopefully this video will help many people as it has for you. Please share it with your family, friend, and co-workers that are planning on buying their new home. What would you like to see next? Thanks again for watching Ms. Perfectly Imperfect! Enjoy a great day, Andrew Finney www.andrewfinneyteam.com/
A lot of these fees sound very redundant. Application fee, origination fee, etc....i mean, shouldn't pest inspection, lead paint inspection be included with original inspection fee? All these different parts of insurances sounds like a big scam to me. I think the usa is just one big scam. I mean, background check, underwriter fee...what other research does underwriter do besides ask questions and request documents.
and why the hell do i need to pay the appraisal fee if it's for the benefit of the lender? also why do i need to pay for lender's title insurance? if it's to protect the lender? i hope i don't have to go through this process any time again soon. i don't have the guts for it knowing that i'm getting ripped off.
Semper Fidelis. I myself just became a MLO assistant with the intent to get a license. Your videos have shown me quite a bit about the loan process! Thanks!
I really appreciate Andrew sharing his knowledge of buying a home & all the costs involved with all of us!!! Some of us have never gone through this process & it's a blessing to have this info given to us to help us prepare. Thank you!
What is a bank fee ? I received in the mail a statement stating like what the taxes are for the house etc. Then there was a cost and it said bank fee $400. Love your videos. I was scared to death when my husband and I started this process.. Your videos have made me feel less scared because your videos explained step by step so well.. Thank you for taking your time doing all these videos. 💞
If you're buying an older home and it has been bought and sold several times, why do people have to keep paying for lead paint inspections? Obviously the property has already been inspected for lead paint several times!!! This is a rip off. This is a way for someone to make money off a service that's already been completed multiple times on the same home.
Hi Andrew -- I have been watching your educational videos with regard to the buyer's guide; esp. first timers, just like myself. These guides have been tremendously helpful such as this one. I appreciate the guidance in paving the way to making the right choice-and-decision as I am jump into one of the biggest investment in my life. So -- hats off to you and to your guests. - Chief
Hi D'Aurae Gaia, Thank you for watching Chief, your kind words, and support! You're the best! I'm super excited to know that my channel is helping you and that you're also enjoying the livestreams! yay! What would you like to see next?
Hi Jvm Interior Design, Thank you for watching and for asking such a wonderful question! You rock! Check the show more description of this week's live stream timeline for the minute marker answering your questions: th-cam.com/video/NWpb_P9gvS0/w-d-xo.html What would you like to see next? Enjoy an amazing day! Thanks again for watching and commenting! =) Chat soon, Andrew Finney www.andrewfinneyteam.com/
Thank you for watching! I'm super happy this video nailed it for you! Sending you positive mojo everything goes smoothly for you. I'm super excited for you! Yay! 🤗 What would you like to see next? 🤓
Thank you. I was a little confused as to why it was so expensive. Now that I know all the money isn't fees but also money going towards the actual home.
Two questions regarding closing costs. 1. Can/Should the Wire Transfer Fee be removed if one pays with a cashier's check? 2. Regarding the Initial Escrow Payment, is there a "set formula" for calculating what the initial payment will be? Under federal rules, a lender can collect enough escrow funds to cover your annual bills, plus two monthly payments, plus $50.
Hi Robert Isassi, Thank you for watching and for your great question! I'll be answering your questions in next Wednesday's live episode. I'll go live at 9am PST next week due to scheduled client appointments thereafter. =) Enjoy a fantastic day! Thanks, -Your Real Estate Geek, Andrew Finney www.andrewfinneyteam.com/
Thank you so much for making this video. I was brought to this channel was the need to know more about this topic since we are searching for a house to purchase. I like to know more about Who pays the buyer's realtor; is it us or the seller? Thank you
Hi Andrew, Can you break the loan calculation. Total of payment. Finance charge. Amount finance. APR TIP It's page 5 from the closing disclosure please
Thanks for the information. Using the VA loan in a month and was told to prepare to bring 3-4 percent of the home's value to close. Using rocket mortgage, do you have any experience working with them?
There is a lot more closing costs than when I bought my current house 21 years ago. That's enough closing cost fees to make you go crazy. Plus everyone whats a piece of the pie when the didn't when I had my house built, Also, you have to pay your realtor commission fee. I my case all of the closing costs & commissions were rolled into the mortgage. In my PA they don't do that any more because everyone wants to be paid up front for really doing nothing at all or some things that should have been done prior to closing in my opnion.
Question on #12; if I pay a year up front.. Okay not a issue, but I still through Escrow, pay Home owners insurance monthly as well wrapped up in my mortgage payments, so I'm double paying for the year? will I get it back at some point..? This I don't understand.
Hey David Deitering! Thank you for watching. It's great to hear from you. Gave you a shout out in this week's live episod and answered all of your questions too! =) Here's the link: th-cam.com/video/5B1T72B01Dw/w-d-xo.html Thanks again for watching and for your awesome comments/ questions! Enjoy a fantastic day! -Your Real Estate Geek, Andrew Finney www.andrewfinneyteam.com/
What would the total be for a cash buyer. I’ve not seen a video on this topic. For example. A condo that goes for 160,000 best guess how much would that be after fees.
What if you've already been paying for the inspections as they came up and I also dont have a loan just paying it cash cause mortgages sound stressful.
so "closing costs" is what is paid by buyer via cashiers check or wire transfer in order to close on the home and thus you get the keys and the deal is done - correct?
Hi Michael Shea, Thank you for watching and for keeping it real! lol... Gave you a shout out or few in today's live session and answered your question too. Yay! Here's the link: th-cam.com/video/Mo-Jh6qdbwI/w-d-xo.html Hopefully we'll catch up in the next live session. I go live every Wednesday at 11am PST. Thanks again for watching! Enjoy an amazing day! Semper Fi, Andrew Finney www.andrewfinneyteam.com/
Great question Carlos! Depending on your loan type, your earnest money deposit (EMD) will either be applied towards your down payment and/ or your buyer closing costs. Your EMD comes out upfront as a deposit of good faith. Here's a quick video about EMD: th-cam.com/video/E0pIqjwJQuY/w-d-xo.html What would you like to watch next?
Andrew also, If I get the appraisal a month before closing and the house is cheaper by the closing date, how does that work if in the contract the option of Contingency to Appraisal was selected? Thanks again
That's a good question Javier and a very interesting notion. It really depends on when your appraisal is performed and if there's cause for a re-evaluation. If no cause exists for the possible reconsideration of value, than it's most likely the former appraisal value will be used. In most contracts (that I know of) an appraisal contingency is time bound within a purchase agreement. Meaning that after certain amount of time the appraisal contingency expires. Best practice here is to get with your loan officer about your first question and your trusted real estate advisor for your second question to know the key dates in your contract. Did you happen to catch the reality show I published last week about how to make an offer? In that video I walk a family through the offer process and share with them the key contingency dates within a purchase agreement. Just in case, here's the link to that episode: th-cam.com/video/vW1SJiA_oyw/w-d-xo.html What would you like to watch next?
This video is THE most helpful I've found on closing cost. Your videos are comprehensive and easy to understand so I've been binge watching haha. Thank you so much!
Hi Ms. Perfectly Imperfect,
Thank you for watching and for your support! Your rock!
Super happy you enjoyed this video. Buyer closing costs are often overlooked by many people with very little explanation of what constitutes buyer closing costs. Hopefully this video will help many people as it has for you. Please share it with your family, friend, and co-workers that are planning on buying their new home.
What would you like to see next?
Thanks again for watching Ms. Perfectly Imperfect!
Enjoy a great day,
Andrew Finney
www.andrewfinneyteam.com/
My Go-To Guy for anything pertaining to Real Estate, always giving great knowledge!
A lot of these fees sound very redundant. Application fee, origination fee, etc....i mean, shouldn't pest inspection, lead paint inspection be included with original inspection fee? All these different parts of insurances sounds like a big scam to me. I think the usa is just one big scam. I mean, background check, underwriter fee...what other research does underwriter do besides ask questions and request documents.
Youre so on point
and why the hell do i need to pay the appraisal fee if it's for the benefit of the lender? also why do i need to pay for lender's title insurance? if it's to protect the lender? i hope i don't have to go through this process any time again soon. i don't have the guts for it knowing that i'm getting ripped off.
Felt like closing cost for dummies. Short and to the point.Thanks so much
Semper Fidelis. I myself just became a MLO assistant with the intent to get a license. Your videos have shown me quite a bit about the loan process! Thanks!
I really appreciate Andrew sharing his knowledge of buying a home & all the costs involved with all of us!!! Some of us have never gone through this process & it's a blessing to have this info given to us to help us prepare. Thank you!
So glad I found your channel! I feel like I’ll be really equipped when I get ready to buy in 6 monthsn
What is a bank fee ? I received in the mail a statement stating like what the taxes are for the house etc. Then there was a cost and it said bank fee $400. Love your videos. I was scared to death when my husband and I started this process.. Your videos have made me feel less scared because your videos explained step by step so well.. Thank you for taking your time doing all these videos. 💞
If you're buying an older home and it has been bought and sold several times, why do people have to keep paying for lead paint inspections? Obviously the property has already been inspected for lead paint several times!!!
This is a rip off. This is a way for someone to make money off a service that's already been completed multiple times on the same home.
Was able to gain more extensive information regarding the fees at closing. Thanks for the info.
Hi Andrew -- I have been watching your educational videos with regard to the buyer's guide; esp. first timers, just like myself. These guides have been tremendously helpful such as this one. I appreciate the guidance in paving the way to making the right choice-and-decision as I am jump into one of the biggest investment in my life. So -- hats off to you and to your guests. - Chief
Hi D'Aurae Gaia,
Thank you for watching Chief, your kind words, and support!
You're the best! I'm super excited to know that my channel is helping you and that you're also enjoying the livestreams! yay!
What would you like to see next?
It really saves you money on closing costs fees if you can pay cash for a house.
I was in escrow and the seller pulled out! I didn’t hear about it until 4 days later and on day 5 the property was back on the market so mad
Hi Jvm Interior Design,
Thank you for watching and for asking such a wonderful question! You rock!
Check the show more description of this week's live stream timeline for the minute marker answering your questions: th-cam.com/video/NWpb_P9gvS0/w-d-xo.html
What would you like to see next?
Enjoy an amazing day!
Thanks again for watching and commenting! =)
Chat soon,
Andrew Finney
www.andrewfinneyteam.com/
PS I really find your videos very detailed and helpful! Thank you
Very good info... Im in the home buying process right now, waiting on a response from the underwriting...
Thank you for watching!
I'm super happy this video nailed it for you!
Sending you positive mojo everything goes smoothly for you. I'm super excited for you! Yay! 🤗
What would you like to see next? 🤓
@@AndrewFinney i would loke to see how mortgage payments are calculated...
Thank you. I was a little confused as to why it was so expensive. Now that I know all the money isn't fees but also money going towards the actual home.
Two questions regarding closing costs. 1. Can/Should the Wire Transfer Fee be removed if one pays with a cashier's check? 2. Regarding the Initial Escrow Payment, is there a "set formula" for calculating what the initial payment will be? Under federal rules, a lender can collect enough escrow funds to cover your annual bills, plus two monthly payments, plus $50.
Hi Robert Isassi,
Thank you for watching and for your great question!
I'll be answering your questions in next Wednesday's live episode. I'll go live at 9am PST next week due to scheduled client appointments thereafter. =)
Enjoy a fantastic day!
Thanks,
-Your Real Estate Geek, Andrew Finney
www.andrewfinneyteam.com/
Thank you for providing alot of detail. Helps to make an informed decision. You rock!
My closing costs are negative 4100 and I close in 2 weeks so does that mean I will get a check at closing?
Great video! And you remind me so much of Matt Damon’s bookish brother
Wow, thanks Sea Glass! lol... I'm glad this video provided value to you. =) Sending you positive vibes everything is going your way!
Most helpful part? Knowing the down payment is totally separate. My jaw hit the floor. Aw man.
The most helpful video I have found..Thank you very much. Appreciate.
Thank you Andrew!
You are amazing, Thanks so much for the info
All great advice much appreciated! !
Thank you so much for making this video. I was brought to this channel was the need to know more about this topic since we are searching for a house to purchase. I like to know more about Who pays the buyer's realtor; is it us or the seller? Thank you
Ok well i already paid some of these fees so i hooe they get to subtracting, im getting annoyed!!
Hi Andrew,
Can you break the loan calculation.
Total of payment.
Finance charge.
Amount finance.
APR
TIP
It's page 5 from the closing disclosure please
I would suggest flood insurance even if you are close....I've known folks that were very surprised and in the damp w/no coverage.
After closing date do I have to pay anything else?
Thanks for the information. Using the VA loan in a month and was told to prepare to bring 3-4 percent of the home's value to close. Using rocket mortgage, do you have any experience working with them?
There is a lot more closing costs than when I bought my current house 21 years ago. That's enough closing cost fees to make you go crazy. Plus everyone whats a piece of the pie when the didn't when I had my house built, Also, you have to pay your realtor commission fee. I my case all of the closing costs & commissions were rolled into the mortgage. In my PA they don't do that any more because everyone wants to be paid up front for really doing nothing at all or some things that should have been done prior to closing in my opnion.
Question on #12; if I pay a year up front.. Okay not a issue, but I still through Escrow, pay Home owners insurance monthly as well wrapped up in my mortgage payments, so I'm double paying for the year? will I get it back at some point..? This I don't understand.
Hey David Deitering!
Thank you for watching. It's great to hear from you.
Gave you a shout out in this week's live episod and answered all of your questions too! =)
Here's the link: th-cam.com/video/5B1T72B01Dw/w-d-xo.html
Thanks again for watching and for your awesome comments/ questions!
Enjoy a fantastic day!
-Your Real Estate Geek, Andrew Finney
www.andrewfinneyteam.com/
I wasn't supposed to eat the lead paint? NOW SOMEONE TELLS ME! :)
What would the total be for a cash buyer. I’ve not seen a video on this topic. For example. A condo that goes for 160,000 best guess how much would that be after fees.
What if you've already been paying for the inspections as they came up and I also dont have a loan just paying it cash cause mortgages sound stressful.
so "closing costs" is what is paid by buyer via cashiers check or wire transfer in order to close on the home and thus you get the keys and the deal is done - correct?
A real estate agent seems like kind of a boring job for someone who is a USMC combat veteran. How u get into real estate?
Hi Michael Shea,
Thank you for watching and for keeping it real! lol...
Gave you a shout out or few in today's live session and answered your question too. Yay! Here's the link: th-cam.com/video/Mo-Jh6qdbwI/w-d-xo.html
Hopefully we'll catch up in the next live session. I go live every Wednesday at 11am PST.
Thanks again for watching!
Enjoy an amazing day!
Semper Fi,
Andrew Finney
www.andrewfinneyteam.com/
Whats the difference between PMI and mortgage insurance?
Do any lenders pay closing costs for the buyer?
I hare the music in the end. It's always much louder than you. Turn down the music volume
Is the Earnest Money included in the closing cost?
Great question Carlos! Depending on your loan type, your earnest money deposit (EMD) will either be applied towards your down payment and/ or your buyer closing costs. Your EMD comes out upfront as a deposit of good faith. Here's a quick video about EMD: th-cam.com/video/E0pIqjwJQuY/w-d-xo.html
What would you like to watch next?
@@AndrewFinney
Thank you sir you rock. Let check that video..
Oh yeah almost forgot, thanks for serving our country, hope you had a great Memorial Day 👍
Good advice. What’re are you located?
Andrew also, If I get the appraisal a month before closing and the house is cheaper by the closing date, how does that work if in the contract the option of Contingency to Appraisal was selected? Thanks again
That's a good question Javier and a very interesting notion.
It really depends on when your appraisal is performed and if there's cause for a re-evaluation. If no cause exists for the possible reconsideration of value, than it's most likely the former appraisal value will be used.
In most contracts (that I know of) an appraisal contingency is time bound within a purchase agreement. Meaning that after certain amount of time the appraisal contingency expires.
Best practice here is to get with your loan officer about your first question and your trusted real estate advisor for your second question to know the key dates in your contract.
Did you happen to catch the reality show I published last week about how to make an offer? In that video I walk a family through the offer process and share with them the key contingency dates within a purchase agreement. Just in case, here's the link to that episode: th-cam.com/video/vW1SJiA_oyw/w-d-xo.html
What would you like to watch next?
Closing cost is the privilege you pay to someone who did very little.
Great
Would it be ok to contact you?
Make seller pay for closing costs.
You talk so fast.