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How are closing costs figured in a real estate transaction?

Answer:
Approximately 3% to 6% of the purchase price. There are several fees that are part of the closing process and are due before closing. In addition to your down payment, fees for appraisals, points on the loan, recording, research, escrow & title company fees will be due. If the loan is a government type, like FHA, the fees can be approximately half conventional loans.
First answer by TheMortgageBuyers.com. Last edit by TheMortgageBuyers.com. Contributor trust: 0 [recommend contributor recommended]. Question popularity: 2 [recommend question].

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