How Much are Closing Costs? | Closing Costs for BUYER | Closing Costs (REAL NUMBERS & HOW TO SAVE)

[@basss902a]

This is the best video on You tube for buying a home, especially first time buyers. She explains everything where they can't take advantage of you. Very Well Done!!

[@ShaheedahHill]

Wow, thank you!

[@kaileyweatherspoon5779]

I like the fact that she’s very encouraging of people buying homes and takes the time to fully help people understand the process.

[@merlyngraham6297]

Thank you. V ery informative

[@merlyngraham6297]

I could do business with you. Awesome presentation.

[@lifewithkashmeere]

This lady helped me so much

[@benpyeatt9986]

I’m in Georgia also, and I just did a very similar deal helping first time homebuyers purchase a HUD home. They got the Georgia dream Grant, and we ask the sellers to pay 3% on closing costs, which covered almost all of it. We were able to keep Cash at closing very very low. Great video here

[@ShaheedahHill]

Thanks for watching, congrats on your closing. The thing about Georgia Dream is that 2% origination fee

[@benpyeatt9986]

@@ShaheedahHill Yeah that was the bulk of it. We ended up around 3.5k cash at closing, mostly the origination.

[@shipjumper6068]

After working at a law firm where a lot of these closing costs paperwork come from, I can honestly tell you that people pay thousands of dollars for things that take about 30 minutes to complete. Closing costs are one of those ways the government put regulations on things to do what they call create jobs and tell you that you’re protecting yourself. If people were actually able to buy a home out right the way people used to do, you can literally avoid 100% of closing costs. This is why there are barriers to contacting the seller directly, if a person uses a real estate company. This woman does a great breakdown of closing costs, and my comment isn’t meant to diminish anything she says. I just know first hand between the paperwork the law office does and the title company that was downstairs from us, you end up paying about $10,000 or more in closing costs for a total of about 1.5 hours or less of actual work being done.

[@ShaheedahHill]

Thank you for sharing, great to get this insight.

[@shipjumper6068]

@@ShaheedahHill you were spot in about removing a deceased person’s name from a title before changing the name on the title. If a property has been passed down without someone going through the proper channels, it can be a headache to do an affidavit of heirship from my experience if the family doesn’t get along, or isn’t in close proximity geographically or if one can even locate every person. The person having a will on their estate is much easier depending on the amount of people, but probating a will is much more expensive than an affidavit of heirship, and it can take longer sometimes depending on the deceased person having other children not mentioned in the will. It’s amazing what one can learn behind the scenes. One should always seek legal counsel in their state to find out how things are done in their state and to be sure things are done properly legally. Understanding this paperwork is something people need to know and you broke it down wonderfully. Years ago, I went on a search to find out what closing costs are, and your breakdown is extremely accurate to what I found out about a decade ago. I call closing costs mafia fees, because it’s basically legal extortion setup by the government in my opinion. But if a person can save their money to purchase a home out right, the only thing one has to pay for out of this is the home inspection to make sure the home doesn’t have underlying issues, and an attorney to draw up the deed to properly transfer the home, which means the attorney will do the research to make sure the property clears title properly, which is basically those fees people pay for title insurance. In total, most attorneys and the inspection will probably costs less than $1,500.

[@JS-dq3ky]

I am really glad to see this video and your comment is good information for me as well. We learn something new almost everyday.

[@CrustofCreation]

This is the best video I've ever seen on closing costs. Most of them are very broad but yours is very specific.

[@ShaheedahHill]

Thank you, I was nervous because it was a lot to go over, so I figured it was best to use a real past closing. Thank you for watching and for the feedback, its greatly appreciated.

[@Tanya-411]

@@ShaheedahHill I guess it depends on where you live as far as asking the seller to help with closing cost. It's a seller's market in Michigan, before I can contact my realtor to let her know I want to view a house, the seller will have already accepted an offer! I am SO READY to move! This searching for a home can get frustrating, however; I refuse to settle for anything! Thank you for your video!

[@parkeymwarike6739]

I have to really agree on this among all these videos this is by far the best ! I hope she is here in my area so I can have her help me !!

[@exclusivebraider]

Thanks so much for taking the time to create this helpful and informative video! I am currently saving up to purchase my first home in GA and would have been blind sided by a lot of these additional fees that I was not aware of!! The saving tips are appreciated as well! 🙌🏾

[@sabrinachin5251]

@@exclusivebraider how and where do I look or apply for down payment assistance in my state? Is that something I need to do on my own or the lenders should be able to help? My realtor say right now the sellers doesn’t offer closing cost due to housing market high demand.? I assuming it’s depends on where you live?

[@cosmicbrownie333]

Manifesting my dream home by educating myself with your videos! My relator wasn't able to break this process down this clearly. Thank you for such an educational video!

[@ShaheedahHill]

Thanks for watching!

[@cedthetruth1311]

@@ShaheedahHill Is it a good decision to raise the asking price of a 340K house up to 355K to get the seller to replace the roof on a house that I’m currently under contract on?

[@mprrx]

Is that like u are financing the roof replacement in the loan?

[@PKerusso]

Wow, buying a home sounds like somewhat of a scam. All these fees sound very unresonable.

[@phelotkhaneyoumagul7689]

Renting is the scam my friend

[@DewTime]

Sounds like you’re broke bruh

[@andrescastillo2299]

Nearly all of these fees are reasonable. You just don't understand how and why these are important. These fees and the entire loan process are heavily regulated. Stick to renting and leave the loan process to professionals.

[@PKerusso]

@@DewTime well I am now sir. I just bought a home. $ 10K IN closing costs. Luckily I was able to get the builder to pay all of them. Good agent helps alot.

[@CCCCCCCCCCCmany]

Peter Kerusso you said my Agent thought he had a fool.

[@ShaheedahHill]

*All amounts were from an actual closing in Georgia - amounts will vary by state. 🏡Actual FHA Loan Details: Sales Price: $222,000 Loan Amount(After Down Payment) = $217,979 Interest Rate= 3.25% 💰Actual Monthly Payment Details Principal = $367.90 Interest = $581.53 Mortgage Insurance = $150.36 Homeowner’s Insurance = 111.83 Taxes = 279.61 💰Total Monthly Payment = $1491.23

[@SexxyDredz]

So the lender will pay their taxes each year since it’s factored in the mortgage payment.

[@ShaheedahHill]

@@SexxyDredz Yes, the county will send the mortgage company the tax bill and they will pay directly from your escrow account. They will do the same for your property taxes each year. Great question and thanks for watching.

[@roxannescott6956]

Is this on a one or two bedroom house

[@reneej8623]

My credit union doesn't offer FHA Loans, is that typical?

[@coreyj.7776]

@@reneej8623 mines doesn't either

[@elizabethmalone3743]

i love how you break it down so regular ppl can understand!!! i love all of your videos!!!!

[@ShaheedahHill]

Thank you so much for the feedback!

[@zurken9549]

You’re so motivating; you really make me believe home ownership is something I can achieve!

[@ShaheedahHill]

You can do this!!!

[@tigerrx7]

Honestly, for someone who doesn’t own a home as yet, the loops and hoops and process to buy a house feels like a sure deterrent to buying a home. At any rate, I’m writing all this down so I can look out for them like an educated buyer in the future. Thank you so much!

[@sharoncrawford3042]

Try building your own home. We built 3. But 2 were in a different state. Plus we built the 3rd one with money we made on second house. So no loan, no mortgage.

[@plubin123]

Same here. I want to learn as much as I can, so I can understand them and ask questions.

[@dsrevo79]

its easy if you follow this steps... first, fix credit, avoid trasfer money in accounts between spouse if your married.., make sure you saved at least 30k and have stable job.. then dont open new financing(car) prior to applying a mortgage.. ,,once you are pre approved,,, dont change anything in yoir finance activity..good luck

[@MG-ww9rf]

This was THE BEST breakdown of closing costs and fees! Thank you!!

[@ShaheedahHill]

Glad it was helpful!

[@LA_Home_Deals_Texas]

Don’t count on the seller assistance to closing cost in this market unless you want to be renter for awhile. No sellers want to pay closing unless they are desperate or the home has an issues…. Buyer needs to have money to cover for their own closing cost and even the difference between the appraisal and the selling price!

[@Nclexcorner]

I was just looking for comment like this. I’m in the process of buying and my agent told me I have to come up with the full closing due to competition. She even told me That most seller don’t want FHA

[@RodknockRhett]

Not true if you offer over asking price…

[@victorcordero1458]

@@RodknockRhett all these fees man smh

[@RodknockRhett]

@@victorcordero1458 I did it. Hard to believe I've lived in my home for 5 months almost... Offer over asking...

[@antheap4253]

Yay. I’m binge watching your videos. So our seller paid essentially all our closing cost and we will pay less than $ 1000 for extras. Also we bought a really affordable house in order to easily pay for things. Some people buy the max mortgage house just because bank will give them the loan forgetting to factor is additional cost at closing and ease of repayment.

[@ShaheedahHill]

Congratulations on your new home! Also is sounds like you did it right, just because they will qualify you for a large loan it doesn't mean you should borrow that amount. You can invest that money in other areas. What I like best about home ownership is the stability of it, you don't have to worry about someone raising your rent/lease every year. You should try to live off of the lowest percentage of your income as possible if you are going to build wealth. Thanks again for the feedback!

[@TechTrailblazer4]

Exactly.

[@suz7110]

Good job to look at the options to go lower on the house buy vs the loan amount allowed. Living within our means is how we can keep the houses paid when we go into the years that are economically tough. If we can still save some, we can keep that to pay if laid off for six months and so on. Good luck and happy new year to your family.

[@doumkatekz]

So how much did you have besides down payment?

[@CLCCOTTON1]

THANK YOU FOR THIS VIDEO! I am closing this coming Friday March 22, 2024. I know u did this video 3 yrs ago, BUT this is sooooo helpful. I been binge.watching all of your videos

[@ShaheedahHill]

@CLCCOTTON1 Thank you for watching and for the feedback. Congratulations on your upcoming closing!!

[@CLCCOTTON1]

@@ShaheedahHill THANK YOU!!! U have really helped me. Don’t stop making these videos. We need them. I am a KZbin content creator as well and I have gave u a shout out to my subscribers who are also buying homes for the first time. U are so detailed & u make it easy to understand when it can be so confusing. Happy Women’s History month

[@christ2551]

Mrs. Hill you should make a 10 minute video that clearly explains what exactly is APR and how to calculate it. Your videos are always insightful and educational.

[@arshiasaber3544]

APR is your closing cost / loan amount. This will give you a % that you add to your interest rate. Example: loan amount of 300k and closing cost of $7200 with an interest rate of 3.5% for the loan terms $7200 / $300,000 = 0.024% Rate @ 3.5% + 0.024% = APR of 3.524% APR in Mortgage is a bit different than Credit Cards or other borrowed money using the term. Its your rate + closing cost, shown as a rate %. I’m a loan officer in CA, licensed in many states around the country and through the NMLS. Hope this helped!

[@peterl.104]

Arshia Saber very helpful. I originally thought it was more like APY where it depends on the frequency that the interest is accrued and didn’t realize it’s instead due to the closing cost. Thank you!

[@kevinb6745]

The simplest way to differentiate i-rate vs. APR/APY is to think of it this way: i-rate = actual interest rate on the loan (amortization basis); life of loan interest rate APR/APY= interest rate on loan + loan closing costs; this is considered the cost of loan (expressed as a % of the asset)

[@sharoncrawford3042]

We ended up paying the closing costs when we sold our last home. At the last minute the guy said he couldnt pay them, so we did. A year later he let the house go back to the bank. We still made 323,000. 200,000 more then we had in it and only lived there 10 yrs.

[@ShaheedahHill]

The joy of real estate ! Congrats on the sale!

[@fire4efect]

Brilliant! You explained this better than every other channel that I viewed. Clear and precise. Thank you!

[@ShaheedahHill]

Wow, thanks. I really appreciate the feedback!

[@kenyonbissett3512]

Excellent video, gotta tell you, even though I know most of it, when you where going through the numbers I got sick to my stomach. I would also recommend people negotiate with the lender once they get their estimates. I negotiated out the origination fee and several other fees. Also some states allow closing at the title company cutting out a lawyers fees. Also make notes on all conversations with the lender and have them initial any changes. Take this to closing. I ticked the title company off because I read through my closing paperwork. I found $3,500 in incorrect charges that the lender had agree to wave and some other fees overcharged. People input the information and people make mistakes, that’s part of life. Never sign something without reading it.

[@ShaheedahHill]

Thank you, I am going to do another one with no origination. I think that will be a little easier to swallow. This is like the max, so people have a general idea of everything they may see. Good job doing your homework, those fees add up! Congrats!

[@TechTrailblazer4]

Sounds thoro.

[@kenyonbissett3512]

This was during the mortgage fraud times before it turned into a mortgage crises. I knew from watching real estate cycles and money management principles it couldn’t end well. It never does. And the further it goes the more fraud happens on both sides.

[@jaelicemiller8497]

Excellent advice!!

[@laleezy77]

Thanks however how are you suppose to know there's a number mistake when you don't know lol🤷

[@DJRanoia]

Best break down on the internet. Thanks!

[@ShaheedahHill]

@DJRanoia Thank you for watching

[@nylacartier]

Anyone watching videos cause they will be closing soon 😢🎉

[@ShaheedahHill]

😊

[@Leeleejayy]

Me!!!

[@jeanetteedwards3129]

Me!! Omg 😱

[@DIDDYTBABY]

Im here thanks to Medium Man. Dude from HTX ha her in his video yesterday actually

[@greentrg03]

Me!!

[@xiomaraortiz4044]

Great explanation ❤

[@ShaheedahHill]

@xiomaraortiz4044 Thank you for watching

[@nicolewilliams9253]

Thank you most ppl don’t talk about closing cost I didn’t know nor hear about it til I started house hunting smh. Seems like a hefty amount in addition to down payment

[@oluwabunmiolatunji3274]

You are the best teacher. I wish you live in the DMV (DC, MD VA) area. I would have find you. Thank you for taking your time to explain all this info.

[@CurtisioPSN]

My commit is, when shopping around for leaders, check to see if they will allow for you to pay off the loan early.

[@ShaheedahHill]

Thanks for watching!

[@Ickyyyyvickyyy]

Girl I binged about 50+ videos on closing costs, lending etc. This is by far the most detailed and easily followed video I came across. 🙌🏻

[@ShaheedahHill]

Thank you so much for the feedback! I really appreciate it.

[@valmikiramroop9426]

Thank you for creating these guides. I’m always learning from your concise yet detailed videos.

[@ShaheedahHill]

My pleasure!

[@wurlitzergroup]

Shaheedah put a lot of time and effort into this and I am impressed. Good explanation of all those "junk fees" associated with loans, and my takeaway is, whomever bought this house got hosed :-)

[@civilnyasandjong265]

I don't usually subscribe to channels, but after watching this video i didn't waste another second to hit "like" and "subscribe" . You nailed it. Kudos!

[@ShaheedahHill]

Thank you!

[@lisakarkosky6478]

This video was so helpful to me! Usually it is hard for me to listen to people talk and explain things to me So the fact you visually wrote it out and just how you explained it step by step was really good.Thankyou!

[@ShaheedahHill]

You're so welcome!

[@patrickgiacomini8155]

Well Done. You are very organized and informative. Nice work!

[@ShaheedahHill]

Thank you!

[@vivianaviera1909]

I have watched about 20 videos talking about different perspectives on first time home buyers including first time home buyers testimonials and also realtors, and none of them covered the closing costs as well and as detailed as you did.. Thank you so much! You where so informative I apreciate it so much.. 🙌🙌👏👏

[@ShaheedahHill]

That is awesome, thank you for watching!

[@seawallbreeze9616]

good info , what i figured out is that you're at the sellers mercy in a hot market so all this good info goes out the window if you really want that property.

[@ShaheedahHill]

Yes, in this market not many sellers are paying closing costs, but things may change. You can find builders paying closing costs.

[@jnachez]

Wish I would’ve saw this video earlier. In the process of buying my first home, a new construction townhouse. Just finished reviewing my loan estimate and seeing the closing cost made my stomach hurt 😂😂😦

[@ShaheedahHill]

Yes, its a lot😂

[@peweep3274]

That why I am so thankful for using the VA loan. We closed in 30 days. Did not pay, many of these fees.

[@AlanMDurham]

YOU ROCK, SHAHEEDAH! Yes, it is me. Your channel recently appeared in my recommendations. I've really enjoyed watching your videos...your inner-teacher is evident! PS...you really didn't need that water; you had longer and tougher days at school!!! Keep posting, girl!!!

[@ShaheedahHill]

Hey Alan, if you found me I am officially KZbin Famous😀Thank you so much for the feedback. I have never done a video this long and didn't have the time to edit. Keeping it real as usual! McNair Trained 😀 - No breaks just teach. Miss you!

[@henzo780]

@@ShaheedahHill You said to invest if we have extra money. How do we do that. Additionally, what if you want to pay the mortgage early

[@georgiaval1]

This was an absolutely fabulous video. I am currently getting ready to go to underwriting. I watched your video on underwriting prior to this. That really helped with your special guest I appreciate that. You are an absolute angel. I wish I was in Georgia to buy a house with you, but I am buying in Fayetteville North Carolina. I am scheduled to close on the house on February 28. My birthday is February 14th, And I had a birthday Cruise playing with my family and friends. But after that everything is going to be frozen. No more spending for me.This house came up all of a sudden it was getting ready to be put back on the market but they asked me if I wanted to buy it. So this has all taken one week’s time. I got a new job offer in North Carolina as a school counselor, and the house. I am relocating from California, as you know the prices here are astronomical. Thank you again for this wonderful video.

[@ShaheedahHill]

Thank you for watching and for the feedback! I think you will really love NC and you will really like the cost of living I'm sure 😊

[@roxannescott6956]

The part when u said the guy didn't had to pay no dwn payment or closing costs just 1000 in fees wow where can I do that at lol that would be great for me first time buyer😊

[@ShaheedahHill]

He did a down payment assistance program in Georgia called Georgia Dream. They give first time buyers $15000 towards closing costs/down payment.

[@roxannescott6956]

@@ShaheedahHill wow great I'm from NYC but would love to move out there in Georgia because houses out here is like half a million for a two bedroom house smh

[@prinsceillacoulter9140]

Im in the process now. Home in 5 program. I get lil ovr 4 grand. Plus seller giving 1600 toward closing cost. So why do i need. 5 grand more ? The lender stated outta poket 3400.. In phx az

[@DELACREMEDELAthegod]

I am learning so much from your channel. We are buying a house with cash. That makes me even more nervous because we have to protect ourselves. Your information has been priceless!

[@ShaheedahHill]

Thanks for watching! Congratulations on starting the process.

[@FaithJourney989]

Wow, SO well explained!!! Very much appreciated for people like me who don't know or fully understand this stuff yet are heading toward closing soon. Thank you so much!

[@yeeroy]

Love the video and how you break down all the costs with concrete numbers! Shocking how expensive just the closing costs are. Everyone wants a piece of your pie 😢 I'm still saving up a down payment ~70k for a modest condo hopefully but i need a lot more for these fees lol. I will educate myself with your videos while I save !

[@ShaheedahHill]

Thanks so much for watching

[@sharlenelamoth5753]

I am not sure why this is in my recommend since I live in Canada and closing cost is 1.5% of purchase price. Also home owners are required to produce homeowners insurance before mortgage closes. But it was interesting to know how different countries have different requirements for the same products.

[@cherylarmstrong1985]

I have a few questions because I was mess around of the selling of the house that I need answers too, how can I talk to you.

[@ShaheedahHill]

Join my first time Buyer's FB group and ask the question there. Thank you facebook.com/groups/HillsFirstTimeBuyers

[@SmokeyDeadGames]

Im about to get a home loan for just under 100k so i can assume my closing costs will be half of this final amount? I have 5k reserved for closing costs. This video gave me a lot more confidence. Currently waiting for the answer from the underwriter. Pre approval from the lender went well. Im a first time home buyer.. And i hope this will be the last time i have to go through this process. Buying a house shouldn't be so hard. It's ridiculous. Money hungry people charging "fees" is the problem.

[@ShaheedahHill]

Yes, they should be much less and there may not be an origination fee and that will also bring down the cost.

[@aellingham2742]

Yes, didn’t realise some have no origination fee.

[@ShaheedahHill]

Correct so very important to get at least 3 quotes.

[@xe-xx8vu]

Hi I just found you while looking for info on first time home buying process. This video has been very informative to me Thank you i'm in NYC every bit of info helps. i'll be watching your other videos.

[@debbiefletcher-bryant5413]

This video was very well done, very well explained, thank you!

[@ShaheedahHill]

@debbiefletcher-bryant5413 Thanks for watching

[@yani3829]

You’re amazing! Thank you for sharing with us. I love the motivation at the end too! Glad I found your page!

[@ShaheedahHill]

Thanks so much for the feedback! I really appreciate it😊

[@mikhailvasquez2038]

Thank you so much for explaining this!I’m a first time buyer and this alleviated my stress.

[@ShaheedahHill]

Awesome, I'm happy it helped.

[@Katy809RD]

My agent won’t negotiate a penny for me, I have to move on. Not sure if all the agents are that way in NJ because I have tried a few and they don’t seem to look out for my best interest.

[@ShaheedahHill]

Have them talk to you about the current market, maybe it is very competitive and there is not much negotiation, especially in a sellers market.

[@Livie_Locs]

This video is a true gem. Thanks for sharing this info. Much appreciated!

[@ShaheedahHill]

Glad it was helpful, thank for watching!

[@kellyfeliciano9185]

Thank you!!! I love the way you taught this and clarified so many details. You should be teaching this at schools across the country!! Trigonometry what? Closing costs way more interesting and challenging to learn lol.

[@ShaheedahHill]

Thank you for watching!

[@justinevans1837]

Very informative and really makes me realize how much the whole process is really ripping me off for paper pushing.

[@ShaheedahHill]

@justinevans1837 Thank you for watching

[@DameDiabolique]

A couple fees that were left out that I had to pay were the land survey and property inspection. I paid about $450 for the survey and $400 for an inspection. I am not sure if they were considered closing costs but these are additional costs I came across when buying my first house.

[@Sherny31]

Right i paid for my appraisal and inspection myself upfront and pmi was not included in the totals cause I wasnt putting over 10000 over

[@mssha1980]

The inspection is listed on the CD but I don’t think it’s considered closing cost.

[@chantestephens]

Surveys are generally optional. At least here in Alabama they are, and buying a property that’s already fenced in helps eliminate this fee.

[@elizabeth1invermont]

Land survey and inspections are prior to the closing, and usually the responsibility of the buyer.

[@Xtremeproducts]

Closing cost initially was $12k+ on LE. On CD it’s only $4800. Yeahhhh

[@ShaheedahHill]

That is great congrats

[@Xtremeproducts]

@@ShaheedahHill thank youuuuuu. You are a part of the process

[@joep9219]

Great video! I just got cleared for closing. I was signing documents and I wanted to make sense of these costs. You explain it well!!

[@ShaheedahHill]

Thank you and congrats!

[@JuanHernandez-wo7ww]

You us honest realtor for explain. And Washington DC, many realtor they promotion a radio 📻 they explain different they lies , greedy , thieves.

[@jpanega1]

You are an awesome teacher. Thank you for your help!

[@ShaheedahHill]

Thanks for watching

[@lennymarsidi2605]

Lots of home buyer dont really know or understand how much money they have to pay closing cost, specially if they are first time buyer, so this video is really helpfull to give them idea how much they have to pay for closing cost, thank you very much for all the infirmation how much money needed to pay closing cost and lender fees, live7 this video.from California subscriber.

[@ShaheedahHill]

Thank you so much for watching and subscribing.

[@cdiarra]

Closing day is September 1 for me...right here in the Atlanta area! Thanks so much for the amazing advice. I love your videos! ❤️❤️

[@ShaheedahHill]

Congratulations and thank you for watching!

[@jenniferlego4221]

Did you get to close? How did it go? Congrats!

[@brandyandcream2]

Excellent video! This video deserves more views.

[@ShaheedahHill]

Thank you, I appreciate that! Thank you for watching.

[@raevonday4197]

Oh my gosh, you were so helpful. Your video should set a presidence for how videos are made and presented. Bless you.

[@ShaheedahHill]

Wow, thank you!

[@VeganBlessedBe]

Maybe you could add that you also have to pay the real estate agent 3.5% in your closing.

[@ShaheedahHill]

Do you? Watch this video - kzbin.info/www/bejne/eH7CmKpjZ9iiqK8

[@bmay3790]

My big question is this: When shopping for lenders what’s the best way to go about that? Is there a fee for them to do a pre approval? Is it possible to get multiple pre approval letters? I need more info please

[@xmen123ify]

Buyers insurance is optional . Lenders insurance is require. Please review cons and pros for buyers title insurance

[@ShaheedahHill]

@xmen123ify Thank you for watching

[@bigreg19]

Great video. I'm 1st time home buyer and this was very informative. I was about to make an offer on a house last week and when I spoke with the lender he talked about fees that I was not aware of at all. I called my cousin because I didn't think it was a good deal and he told me to hold off for a couple of months, which I now have. I realized I was not as prepared, financially, as I thought I was. I have the down payment, but not enough for the closing costs. My cousin also recommended I reach out to other lenders because they may have better offers and they did. I spoke with several other lenders including credit unions I bank with and they quoted me $5000 less for closing costs and almost .9% for interest rates. THANK YOU for this video. Still looking and saving some more money.

[@Yamaha23MT10YamahaR1]

Im stuck at saving enough for closing cost. Sucks. I thought only the money for the down payment.

[@mssha1980]

They can add closing cost into the loan

[@taylorpatterson9325]

Mrs hill. I think I mightve had you as a teacher my freshman year I just came across your videos and they have helped immensely

[@ShaheedahHill]

Probably🙂, what school? I taught business & computer science at McNair, South Paulding and Hillgrove.

[@taylorpatterson9325]

@@ShaheedahHill it was south paulding I was graduating class of 19 so would've been 2014-2015 class 5th period I think if I remember right, I was not your favorite student lol

[@meicealways5842]

I’m here because my home is under contract and i still don’t understand closing cost lol Also title insurance isnt necessary with new builds right? I will b the first one to live there... FloridA doesnt have state taxes..I’m stressed just listening to this What about PMI? I didn’t see that in there

[@ShaheedahHill]

Have your lender go over your loan disclosure with you with all the fees. It may be different in your state, but these are some of the typically things you will find. It is still recommended that you get title insurance because the builder bought the land from someone so that can come into question. Rare but it does happen. www.inman.com/2015/06/04/is-a-title-insurance-policy-on-a-newly-constructed-home-really-necessary/

[@windlillylawson3944]

I go to inspection next week then closing. I don't know what I will have to pay either at closing. I wish I found her video last week.

[@PInk77W1]

Me too. I have no idea what to expect. Scared to death. LoL.

[@activekenson8136]

Windlilly Lawson how did it go ? I have my final walk through next week

[@meicealways5842]

Same for me guys! No idea but If it’s not what i want to pay im out!

[@pnswg01]

Google sent me here. The first video I watch on the subject. I need not watch any other. Great explanation. Thanks. One question, I thought Attorney fees were part of the closing cost, they usually take quite a bit.

[@ShaheedahHill]

They are part of the closing costs, they are generally under "Title Fees"

[@nicoleh.6352]

Very informative, I'm a new Realtor, looking to gain as much knowledge as I can.... I've been binge watching your videos, the topics are always good/helpful..👍🏾

[@KamalElfahssi]

I am still finding great information sources in your channel Ms. Hill, do highly appreciated

[@capeverdegrl]

You are the BOMB!! So appreciated. Thank you!!

[@ShaheedahHill]

Thank you for watching!

[@3rdandMainBags]

Im in PA and the closing cost are adding up to be over 20k, with the down payment, and this is wether the house is 230k or 200k

[@theageo2290]

Loved the video. Can you do some videos about VA loan, closing cost and etc, please?:)

[@kodiaghaegbuna272]

Yes would like to see closing cost on VA loans. I am in the process of almost closing with a VA loan and in my loan estimate I see a funding fee of 15000. I was so shocked. I think this is ridiculous for a VA loan..please can you explain this.

[@gregory9028]

I was just told by a loan officer that for a $305 thousand home in Memphis Tennessee closing cost would be $20,800 Is this unusual?

[@ShaheedahHill]

Ir seems high but you are probably paying points, here is my video on points.Get a loan estimate to see all fees. kzbin.info/www/bejne/l2O3YZRjZcytqdk

[@Anabee399]

Thanks for another great video. Loving the look too.

[@3rdandMainBags]

Yesss, becuz people think all you need is the down payment. I try to tell people its the closing cost. You need more than the down payment.

[@ShaheedahHill]

Yes Ma'am! Thanks for watching@

[@Urbanthick]

Im looking at all my title fees on my FHA $102k loan & in addition to the fees you mentioned I also paid title: closing protection, post closing fees, and binder commitment. Have you heard of these? I'm also in GA.

[@ShaheedahHill]

Yes, those are closing attorney fees some attorneys nickle and dime you for every little thing. You can choose your own closing attorney and see who has the best fees. But those fees are not unusual.

[@enickcherisme9527]

You are the best iam in process to buy a house my lender dont give me those info....

[@murtylolla7928]

clear view of all the financials involved in buying explained very well.

[@ShaheedahHill]

Thanks for watching

[@thefatalkiwi9256]

I didn't realize it took all this to purchase a home. No one actually explained this too me. Glad I'm looking it up, wish I would've seen this sooner to perpare more.

[@mitube4u]

Right. And if you live in California be prepared to receive a gift from them called the "Supplemental Property Tax" sometime after you buy your home.

[@thefatalkiwi9256]

@@mitube4u thankfully I don't but omg they just want it all lol

[@mitube4u]

@@thefatalkiwi9256 Yeah California really does want you to own a home. And if you decide to buy home that was built in a new community and the builder decides not to pay for the infrastructure like the school and local fire dept. there's this extra monthly tax called "Mello Roos" that you have pay along with your property tax. It can get crazy.

[@thefatalkiwi9256]

@@mitube4u Oh wow... Well that's just fantastic! 😖 Kinda glad I'm not there lmao

[@sharoncrawford3042]

@@mitube4u Just trying to tax people anyway they can. No wonder rents are high. If landlords get stuck with all the taxes and insurance, they have to charge a mint to make any profit. Id never go in the renting business.

[@alexserrano5367]

I know your not a expert in this market but can you do the insane Southern California market

[@ShaheedahHill]

I will try to give an overall market update in November

[@Happyhealingbaby]

I LOVE your videos! I’m undergoing credit repair now, my goal is to try and apply for a home loan by 9/23/20! Thank you so much ! God bless u!

[@ShaheedahHill]

That is awesome! Thank you!!

[@godfreyexcel76]

Thank you so much, this video really explained some of the questions I was seeking answers to

[@ShaheedahHill]

I'm so glad! @godfreyexcel1980 Thank you for watching

[@niajeannine]

loved the video and it was the most comprehensive explanation of closing costs. I subscribed and liked the video. Thank you!

[@ShaheedahHill]

Thanks

[@JS-dq3ky]

Can you give a break-down of what the lender's policy, settlement, and exam is?

[@ShaheedahHill]

Lenders title policy protects the lender if there are any title issues, you don't have a choice on this fee, the settlement and exam also refer to title - these are attorney or title company fees - the do title seaches and exams to make sure the title is clear and able to be transferred. Your lender can review these fees with you in detail, if you want to save you can try a different closing attorney to closing attorney.

[@bettycole6754]

If an home is 400.000 dallor do I have paid an down payment 🤔.

[@ShaheedahHill]

Depends on loan program.

[@daliadali9406]

I like your channel. I am a latin lady from Florida. I love your pronunciation.

[@ShaheedahHill]

Thank you! 😃

[@windlillylawson3944]

I wish I found your video a month before I started my process

[@ShaheedahHill]

Sorry, but I am happy you found me!

[@insomniareflection8569]

First time buyer here

[@ballingwiththebings2947]

We were given an estimate for closing costs, however our property taxes were included for 11 months.. the lender said that the builder/seller is responsible for 9 out those 11 months so that the closing costs would drastically change. Is this normal? Is she correct or do you have any opinion on this?

[@ShaheedahHill]

The builder should give you a credit at closing for those months the owned it for the year. New construction is a little tricky with taxes because until the house is built the builder is just being assessed on the land. Ask the closing attorney about what the estimated taxes will be.

[@ballingwiththebings2947]

The Real Realtor - Shaheedah Hill Real Estate that’s the tricky part we got an estimate already but lender said it would change a lot & we will see final price 3 days before closing.

[@ShaheedahHill]

@@ballingwiththebings2947 try the closing attorney they may be able to give you a better idea since they create the closing statements for both sides.

[@ballingwiththebings2947]

The Real Realtor - Shaheedah Hill Real Estate ok will do!

[@liquorinfrontpokerinrear3271]

Question? ..The "SATISFACTION of MORTGAGE" letter. After the mortgage instrument is recorded, and they index the satisfaction of mortgage on it, why is that not given to the creditor after closing? The definition of closing means all is satisfied, seller was paid 3 days before my closing, he relinquished control of deed to buyer. Isn't the note a check? When I've looked at satisfaction of mortgage letters, it says, the date and time of closing, and is, paid off satisfied, discharged in full. I guess nobody reads the letter and if they do, just dismisses it as a mistake..

[@ShaheedahHill]

Check with a/your closing attorney or title company.

[@liquorinfrontpokerinrear3271]

@@ShaheedahHill I thank you Miss Hill for your reply! December 10, 2019, they stole my home and sold it but, I'm not done fighting. No limit on fraud. I only recently, 4 years ago discovered back in 2003, was a UCC Termination statement on a UCC financial statement recorded. And on August 15, 2019, I started receiving emails from the SEC and Bank, 13F-HR form..I forgot I have homestead. Now I come to learn, my Real Property was miss classified as Agriculture for tax purposes. And since it's listed as commercial and not private property, is the only way they can attach a lien and foreclose.. And residential 1-4 family dwelling units?.. Rents? Profit? That's commercial too!.. You gotta hand it to the Federal Reserve, He who has the gold, makes the laws!...After rereading the complaint, the lawyer for bank, prayed for the judge to put a lien on my property! .. Days later it hit me. The UCC termination letter and satisfaction of mortgage letter was coming into play..

[@browng9574]

How do you know the lander's fee? am in contact with one an when i ask he said after closing they change

[@ShaheedahHill]

Ask for an estimate from the lender and ask your agent to help you get a better idea of attorney charges, misc fees and the attorney will know taxes.

[@doodsnagali9935]

NOW I UNDERSTAND THE CONFABULATED AND CONBULATED "CLOSING COSTS" Good Job

[@ShaheedahHill]

Thank you!!

[@BryActive]

The more I watch videos and do research the more overwhelmed I get! Currently in the underwriting process, and I have to stop telling myself that renting would be easier 😥😥

[@ShaheedahHill]

Don't get overwhelmed. Download my where to start guide and take it step by step

[@doumkatekz]

This is where I am at. I really do not want to buy right now.but landlord is selling and the rental market totally sucks

[@Mano__Tony]

I'm buying my first house here in America (thank God). Thank you so much for your video, very enlightening.

[@ShaheedahHill]

Thanks for watching!

[@elizabethbarrera2793]

This is the best best video I have ever seen. The most insightful, as you explained step by step by step.

[@ShaheedahHill]

Wow, thanks so much for watching.

[@ArchiLee-ch]

Are these fees different for a conventional non FHA loan?

[@ShaheedahHill]

Yes, it will be different. It should be less expensive. You wouldn't have a MIP upfront fee of 1.75%. I plan to do some more closing cost videos with different loan types. Thanks for watching

[@ShaheedahHill]

Yes

[@ArchiLee-ch]

@@ShaheedahHill Thank you for responding. I just subscribed to your channel so I will keep an eye out for that video.

[@tommy101925]

D. D. Does title insurance cover a home I bought that had a lien on it that the title company missed

[@ArchiLee-ch]

@@tommy101925 You should ask this question to the creator of this channel.

[@ropatipisia4830]

Good job breaking it down. Thank you

[@ShaheedahHill]

Glad it was helpful!

[@davidshaw9329]

I'm a brand new agent here in NJ. I've found that it can be challenging to find in-depth information on topics like this. Your videos are exttemely thorough. Really appreciate them. If you ever decide to do coaching, I'll be definitely signing up.

[@ShaheedahHill]

Hi, thanks. Actually thinking about this in 2021. Stay tuned, it will probably be about how to use KZbin to get clients in your city.

[@josemarshallo1045]

Just love all your videos , have watched almost all of them . Am in processing stage getting to closing this is exactly what I needed to know. Thanks dear

[@ShaheedahHill]

Thanks so much for watching. Best of luck on your new home!!