Closing Costs in SoCal

3 Replies

Looking to purchase an owner-occupied Duplex in San Diego and plan on using an FHA loan. What's a good estimate % for closing costs so I can estimate my total costs to purchase?

Thanks

Zach

I would say 2 to 3% of your purchase price would be a safe estimate. This wouldn't take any credit from your lender or any type of credit your agent has worked out if any. It's always nice to plan on that 3% so you know you are ready for worst case. Best of luck!

@Zach Adams your escrow officer will give you an estimated HUD 1 which will have all of the estimated costs on it. I think 3% would be really high but you'd be on the safe side if you planned on it being that much.

Home Loan Closing Costs in Oceanside, CA

When you buy property, you’ll have to pay closing costs. Some of these closing costs may include origination fees, discount points, inspection fees, and appraisal. These fees will be charged by your lender and other third parties. Some loans allow the seller to cover some of the closing costs. Depending on the loan, these costs can be rolled into the mortgage loan. You can typically expect closing costs to be in the range of 2% to 5% of the purchase price.

After you apply for a mortgage, your lender will provide a Good Faith Estimate which is an approximate estimate of the closing costs. Many items on the GFE are subject to change. If the closing costs are too high, you can still walk away from the contract.

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