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Wells Fargo extends $5,000 closing cost credit

Housing Wire

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees.

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Better introduces VA refi loan with no appraisal or closing costs

Housing Wire

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. The upfront closing costs can be rolled into monthly payments or waived, if a borrower has a qualifying disability.

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CHLA: Lack of competition has driven up third-party closing costs

Housing Wire

The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers.

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Rocket launches loyalty program, gives discount for closing costs

Housing Wire

In the first phase of the program, customers can use points to get discounts on their closing costs when purchase a home through the subsidiary Rocket Mortgage. To start, customers will receive a 7,500-point welcome bonus on their first reward activity – or $75 in savings on closing costs.

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What To Know About Closing Costs

Keeping Current Matters

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process.

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Closing costs: Here’s how much money you really need to buy a house

Housing Wire

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs? Mortgage Broker Fee . to 2.75% of the home’s purchase price.

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Closing costs are up, but there’s a catch

Housing Wire

The average closing costs for a single-family home increased 12.3% According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes. According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes.