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Home Buying Tips | Coldwell Banker Realty Blog

Thursday, March 25, 2021   /   by Steve Ticknor

Closing Costs: What to Expect

Congratulations on finding the home of your dreams. The seller even accepted your offer. Way to go! You made it past the first hurdle. Now...you enter escrow. Here is where we talk money. The downpayment is only one expense buyers pay. (If you need it, downpayment assistance is available for some Lake Havasu home buyers, by the way.) Buyers must also pay closing costs. But what are they, how much should you expect to pay, and does the seller have to pay any of them?
Closing Costs
What are They?
Closing costs are the fees that buyers and sellers pay to various third parties in order to facilitate the sale of a property. These typically run between 2% and 7% of the purchase price. In Arizona, they run on the lower end. According to Finder.com, ClosingCorp puts them at 1.21% to 1.82% of a home's purchase price. For a $300,000 Lake Havasu home, this means roughly $6000. And that is in addition to your downpayment. Sometimes, even in a seller's market, the seller may offer to help pay so. ...

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  lake havasu real estate, home buying tips, closing costs

Saturday, January 30, 2021   /   by Steve Ticknor

Downpayment Assistance for Havasu Home Buyers

Purchasing a property for first-time homebuyer can sometimes feel a bit overwhelming. First, you need a good REALTOR® to represent you. Then, you must make sure your financials are in order. That includes your downpayment. If you find your funds a little short, consider utilizing the downpayment assistance program Home Plus Arizona to make your home purchase a little easier.
Home Plus Downpayment Assistance Program
What is Home Plus Arizona?
The Arizona IDA oversees the non-profit Home Plus Arizona program. Buyers may qualify for up to 5% of the home's purchase price to fund either their downpayment, closing costs, or both if needed. Of course, certain restrictions apply for this downpayment assistance program. And the amount available to the buyer(s) depends on the sale price of the home in question as well as the creditworthiness and income level of the buyer.
How Does Home Plus Work?
First, a buyer/buyers must qualify for a 30-year fixed-rate Home Plus Loan. That means cont. ...

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  lake havasu real estate, downpayment assistance, home buying tips

Coldwell Banker Realty
Steve Ticknor And Bob Ulery
2148 McCulloch Blvd N #105
Lake Havasu City, 86403
928-302-6177

Copyright 2021 WARDEX Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable, but not guaranteed. This data is provided by the Western Arizona REALTOR Data Exchange, Inc.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.
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