Maryland Real Estate Authority |
| Revell Downs Home For Sale Annapolis Posted: 11 Oct 2010 10:20 AM PDT Revell Downs Home for sale Annapolis |
| Posted: 11 Oct 2010 02:00 AM PDT While your lender is obligated to give you a “good faith” estimate of what your closing costs will be before you sign the papers, you have to be aware that in the end, you may end up paying more than that estimate. If you have a good credit rating, you may be able to go back to the lender and negotiate a better deal, but you have to keep in mind that the lender’s estimate does not include items like property tax and other local taxes. Some experts advise that while you should look out for closing costs that seem to be too high, you really want to make sure that your loan rate is the lowest you can get. There is no point haggling over closing costs, while paying little attention to the interest rate. Some finance experts even suggest that you consider paying a point (or points) in advance if that mean you can be guaranteed a lower interest rate. This makes sense if the time you plan to own the house will be enough for you to recoup the costs of paying points up front. Getting expert advice is definitely worth the effort. If you are looking for expert advice about Maryland real estate, contact John Day, an experienced Maryland realtor. |
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