The very last step in the process of purchasing your home is closing. At this point, all final documentation will be signed, funds will be distributed and keys will be exchanged.
While this part of the process can be the most exciting, because it means you will finally be able to move into your new home, it can also be quite intimidating. There are several steps that need to be taken for a closing to be successful, and each of these steps will require careful planning and lots of documentation.
Knowing what to expect ahead of time, especially where additional costs and fees are concerned, can help you avoid any hiccups that could prevent you from closing on time. The costs and fees that are typically associated with closing can include, but are not limited to:
- Appraisal, Inspection and Survey Costs
- Legal Fees
- Title and Homeowner’s Insurance Payments
- Title Insurance
In addition to the list above, one of the largest costs that you should plan to pay at closing is the down payment you will be making on your mortgage.
The process of closing on your mortgage should be an exciting time, and I want to make sure you get to experience that excitement as you finalize the purchase of your new home. As a trusted Red Deer mortgage broker, I am here to help you figure out what costs you will be responsible for at closing and the best way to make sure you are prepared for that responsibility.
Whether you have questions about how much you should expect to pay in closing costs or you are ready to get your mortgage process started, give me a call today! As a trusted Red Deer mortgage broker, I am always happy to answer questions or to help in any way that I can!