Buyers save for a down payment for years, then discover closing costs on top of it: lender fees, title insurance, taxes, and prepaids that can add up to thousands. The good news is that closing costs do not always have to come out of your pocket.
Ways to cover closing costs
- Seller concessions: negotiate for the seller to pay part of your closing costs
- Down payment assistance programs: many also cover closing costs
- Lender credits: sometimes available in exchange for a slightly higher rate
- Builder incentives: common with new construction purchases
What to ask before you make an offer
Ask your lender for a written estimate of closing costs on the homes you are seriously considering, and ask Kelly which concessions are realistic in the current market. Some sellers will happily cover costs for a full-price offer; knowing that is a matter of strategy, not luck.
The team matters
Kelly works with lenders who know the assistance programs available in Central Florida. Getting that team in place before you shop means every offer you write is built to close.
Worried about the money side of buying? Kelly will connect you with lenders who know the programs and help you make offers that work.
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Kelly Wheeler, the Real Estate Ninja, is a Clermont FL Realtor with eXp Realty (SL3352000). He works with buyers and sellers across Central Florida, from Clermont to Winter Garden to Davenport.