Buyers Closing Costs you'll want to know about.
Last modified March 5, 2022These are the typical Buyers Closing Costs that you will see on an ALTA Settlement Statement or Closing Disclosure; total mortgage fees, settlement fees, owners tile insurance, owners title search fee, lenders policy, pud or condo HOA annual payment, Florida form 9, state and/or county recording fee, intangible tax, appraisal fee, documentation stamps on deed, survey. In the case of SOME Down Payment Assistance program, the intangibles tax and Deed/Doc stamps are exempt such as the State of Florida conventional or FHA Bond Loan programs.
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Top 10 terms for First-Time Home Buyers:
- Homeowner's or Hazard Insurance policy
- Real Estate and Mortgage Disclosures
- Consumer Mortgage Disclosures are a Federal Regulation.
- Due on Sale Clause
- Federal Home Loan Bank or FHLB
- APR (Annual Percentage Rate)
- Federal tax lien
- PMI (Private Mortgage Insurance)
- General liens on property
- Gift letters in mortgages