Buying a Home? Keep Closing Costs in Mind!

You’ve found the perfect home. You’re ready to buy.

All that’s left is bringing your down payment to closing… right?

Not quite.

Closing on a home comes with additional costs—often totaling 2% to 5% of the purchase price. That means $4,000 to $10,000 on a $200,000 home.

These costs may include:

• A home appraisal
• Title and homeowner’s insurance
• Escrow and document preparation fees
• Recording and credit report fees
• Property taxes
• Optional (but highly recommended) home and pest inspections

While some buyers negotiate for the seller to cover part of these expenses, many buyers are responsible for at least a portion themselves.

The good news? For a limited time, eligible members can receive $500 toward closing costs on a home purchase mortgage through Downriver CU.*

If homeownership is on your horizon, we’re here to help make the process simple and clear—so you can focus on accomplishing something great.

Visit DownriverCU.com/Mortgages to learn more or connect with a mortgage specialist.

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