Lest you think that the purchase price of a home was all that was involved when you were finished paying off the bankā€¦ usually you have to pay advances on things like taxes and a few monthly payments. In addition, you will have to pay insurance (title), a fee to the local government person who records the loan, surveyor fees, and a bunch of other laments that make no sense but must exist for one reason or another, as stupid as that may seem.

You can drive a semi through the range on closing costs, but they are usually 2 to 3% of the price of the home.

Next Page: Getting the Best Mortgage
Previous Page: Negative Amortization