What is the cost of getting a mortgage loan?

Costs and fees can vary depending upon mortgage lender policies and certain of the choices you make when you get your loan. For planning purposes, you should figure on 2% to 4% of the loan amount as a working figure, but total out-of-pocket expenses for funding escrow accounts and buying needed insurance policies can push that figure higher. If you're refinancing, you can finance those costs in a couple of different ways.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Submitting your question...

Question received! Check back later to see if your
question gets published.

Q: Can my friends and I buy a house together?
JUL 18, 2021
A:

The answer is "yes," you can certainly all buy a house together.

Read More
Q: What is the difference between "rate" and "APR"?
APR 26, 2021
A:

APR is perhaps the most misunderstood part of mortgage finance. "Rate", or more properly "contract interest rate" is the actual rate of interest you are being charged...

Read More
Q: How do I find out who owns my mortgage?
MAR 15, 2021
A:

The owner of the loan is most often the "investor" -- the entity who put up the actual funds to make your mortgage happen.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen