Question

How much are the average closing costs on a $150,000 home?

With a down payment of $4000? In Richmond, VA.

5 years ago - 5 answers

Best Answer

Chosen by Asker

In this market you should have no trouble negotiating with the seller to have them pay all of your closing costs.

Source(s):

5 years ago

Other Answers

Closing costs are based on the loan amount, not the cost of the house. Generally 3 percent of the loan amount. So it would be about 4,380. However, with such a small downpayment they could easily be higher because of points.

Source(s)

by Patricia C - 5 years ago

Average closing, not including down payment are 3 to 5% percent of the sales price of the home so figure $4,500 to $7,500. Some of these costs are negotiable (shop around for appraiser if the bank will let you, negotiate some of the paperwork charges, etc.,)

There is some good info on the web on what charges can be negotiated and how to save money on closing costs.

by Steve D - 5 years ago

$5500.00

Source(s)

by racache_us - 5 years ago

i would think that with this buyers market, you should talk to your seller and include seller pays $3,500 toward closing costs in any offer. i would talk your agent and see about including that in any offer you send out.

Source(s)

by Fluffykitten27 - 5 years ago