The most common home loan and mortgage questions
Here are some of the most frequently asked questions regarding mortgages. If none of your questions are here, please contact one of our mortgage advisors.
Frequently Asked Questions
Why are Closing Costs so high?
Depending on the objective of the borrower, Closing Cost can vary in cost. If the borrower decides to buy down the rate with points, this will drive up the closing cost. On the other hand, if the borrower decides to receive lender credit in exchange for a higher rate, this will offset some or all of their Closing Cost. However, the majority of the time, the high Closing Cost is due to taxes and escrow.