Seven Strategies for Reducing Closing Costs
A down payment isn’t the only expense you need to consider when buying a house— you’ll also have to budget for closing costs, which could range anywhere from 2% to 5% of your total loan amount. And with the median home sales price well over $400,000, this means you could end up shelling out over $20,000 in closing costs alone. Once you factor in the down payment, moving costs, and new furniture, home ownership can start to feel out of reach.
The good news is that there are ways to reduce closing costs.