Over Half of Buyers Are Surprised by Closing Costs

Real Estate

Over Half of Buyers Are Surprised by Closing Costs

More Than Half of All Buyers Are Surprised by Closing Costs

According to a survey conducted by ClosingCorp, over half of all home buyers are surprised by the closing costs required to obtain their mortgage.

After surveying 1,000 first-time and repeat home-buyers, the results revealed that 17% of home buyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.

“Home-buyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”

 

 

 

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