Easily Slash Your Closing Costs Using Home Equity
Understanding the Costs Involved
Closing costs typically range from 2% to 5% of the loan amount3. These costs can include appraisal fees, title insurance, attorney fees, and more. By using home equity, you can potentially save thousands of dollars in upfront costs. For example, if you're purchasing a $300,000 home, closing costs could range from $6,000 to $15,000. Leveraging your home equity to cover these costs can significantly ease the financial burden.