8 Tips On Real Estate Closing Costs

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Tip #4 – How Will Your Closing Costs Be Determined?

8 Tips On Real Estate Closing Costs

  • www.zillow.com

Find out how the closing costs will be determined prior to trying to negotiate with a lender or broker. Some of the fees collected by the loan officer are mandated by the company while others are optional. To take an example, loan officers inform the clients what the rate of interest would be and how much would the processing and administration fee be.

The processing fee, in this case, is optional; the loan officer can either do without it or charge any amount according to his/her convenience. But the loan officer has no discretionary powers over the administration fee which is determined by the company.

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