Updated over 5 years ago on . Most recent reply
Closing cost in TX purchase
Still new in real estate, so want some advice on loan closing cost in TX. My current understanding is that 1% earnest money must be paid upon offer accepted. Then 3% of closing cost goes to loan agent. That is almost 4% closing cost of the purchase price. Is this norm in recent TX market (i.e. Austin). For a 250k properties, that is almost 10k as closing cost. I have seen some closing cost to 2k-3k from deal analysis, but how could this be possible if 4% is already taken away from closing cost?