My closing costs estimate came back at $8,400 and I nearly choked on my coffee.

I'd mentally prepared for maybe six grand, so seeing that extra two and a half thousand meant I had to scramble to move money from my 'new couch' fund just to make it work.

3 comments

3 Comments

terryk281mo ago

That couch fund scramble is the real hidden cost, isn't it. I was surprised you only budgeted six grand though, was that from an old rule of thumb. Most first timers I know get hit with a number closer to three to five percent of the loan. On a typical mortgage, that puts you right in the ballpark of what you actually got. Makes you wonder where that six thousand figure even came from.

mary_foster921mo ago

Has anyone actually read the full closing disclosure line by line? I got hit with a "processing fee" from the lender that was just a made up charge. Questioned it and they dropped it immediately. Bet half that extra cost is just junk fees they hope you won't notice.

john6501mo ago

Remember when closing papers were a literal stack you had to flip through? My first house, the notary just kept sliding pages and pointing at the yellow stickers. I was so worried about signing in the wrong spot that I'm sure I paid for three "admin fees" without blinking. It feels like they bank on that panic to slip stuff in.