How much do I have to pay upfront for closing costs as a buyer?

4 Replies

I plan on house hacking and doing a 5% conventional financing loan. I was wondering what type of upfront closing costs I have to pay. Let's use the example of a 200k property.

How much would I realistically have to pay upfront in closing costs?

Hey Jimmy, its me haha. Closing costs vary based on timing of within the month and the year because its mostly based off of property taxes and interest pre paid. I would suggest when you find a good property to buy that you have your lender calculate approx closing costs then have the seller pay those closing costs so you have more reserves when you own it.

Your other costs would be approx $500-600 for a duplex property inspection.

approx $900-1200 for an duplex appraisal. some lender add that to closing costs but most will charge ahead of closing to make sure they don't lose if you back out.