Caroline Bianchi - RE/MAX Acclaim Worcester County | Oxford MA Real Estate


Closing costs are usually an unavoidable part of buying a home. While there are ways to reduce some closing costs and fees, they are an expense you will likely have to consider when it comes time to save for a home.

On average, buyers can expect to pay between 2 and 5 percent of the purchase price in closing costs and fees.

In this article, we’re going to break down those costs and talk about some ways to plan for, or limit, the fees associated with closing on a home.

A breakdown of closing costs

Most closing costs in a real estate transaction are paid for by the buyer. When getting approved for a mortgage, your lender is required to provide you with an estimate of the closing costs. This is called a “Closing Disclosure statement” which overviews the details of your loan.

Different lenders will charge varying amounts in fees. Some are even willing to waive certain fees. But, we’ll discuss that later.

For now, let’s focus on the closing costs buyers typically have to pay:

  • Attorney fees - a flat-fee or hourly rate depending on the attorney

  • Origination fees - an upfront fee charged by the lender for processing your mortgage application

  • Prepaid interest or discount points - a payment for the interest that will accrue on your mortgage from the time you close until your first mortgage payment is due

  • Home inspection fee - the fee that a professional home inspector charges to inspect a home

  • Escrow deposits - Usually split with the seller, this is the fee charged by an escrow agent

  • Recording fees - fees for legally recording the new deed and mortgage

  • Underwriting fees - fees paid to the lender for researching your mortgage case and determining whether or not to approve your application

These are just some of the many fees that can be due upon closing on a home. Depending on where you live, which lender you choose, and the type of mortgage you secure, your closing costs will vary, so it’s a good idea to shop around for a lender and mortgage type with reasonable closing costs.

Reducing closing costs

Some lenders offer no-cost, or low-cost mortgages. However, these savings often come with a higher interest rate which, over the lifespan of your loan, can cost you more in the long run.

You should also be aware of the different loan types that you may be eligible for. FHA loans, USDA loans, and VA loans are all designed for buyers hoping to make lower down payments on their home.

Each loan type provides different amounts due at closing. Fortunately, your mortgage lender will be able to give you an estimate of costs for each loan type.

Want to get an estimate of the closing costs you’ll have to pay when you buy a home? You can use this online calculator to see an average.



22 Arrowhead Ave., Auburn, MA 01501

Single-Family

$389,900
Price

9
Rooms
4
Beds
3
Baths
Magnificent family residence expertly restored! Four bedroom cape in desirable Auburn boasts amenities galore! Enormous family room with fireplace, recessed lighting and new carpeting. Fully remodeled kitchen with sparkling new cabinetry and appliances, ceramic tile flooring and granite countertops. Separate dining room with large pantry and hardwood floors is perfect for family celebrations. Gleaming hardwood floors continue into the sunny living room and first floor bedroom. Full bath with ceramic tile floor and new fixtures. The first floor also includes a bonus room with glass sliding doors to a deck overlooking a private yard. Spacious master bedroom on the second floor is incredible, with space that may be used as a nursery, beauty room or You Tube studio! En suite full bathroom with new fixtures. Two additional bedrooms and another full bath complete the second floor. Over-sized two car garage and a corner lot. You must see this bright, lovely home!
Open House
Saturday
March 16 at 11:00 AM to 1:00 PM
Send your buyers by , brokers protected.. Marvelous spacious home with 4 bedrooms. large family room with fplc, oversized garage and more..
Cannot make the Open Houses?
Location: 22 Arrowhead Ave., Auburn, MA 01501    Get Directions

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This Single-Family in Oxford, MA recently sold for $315,000. This Colonial style home was sold by Caroline Bianchi - RE/MAX Acclaim.


363 Main Street, Oxford, MA 01540

Single-Family

$330,000
Price
$315,000
Sale Price

11
Rooms
4
Beds
3
Baths
RARE LISTING...Impeccable home with second floor accessory apartment on tree-lined Main Street in Oxford! Enjoy gazebo concerts while sitting on your own front porch!Large, bright entryway with grand staircase. French doors lead to sunny living room with gleaming hardwood floors. Arched doorways with built-in bookcases separate the living room from large dining room perfect for family gatherings. Lovely kitchen with beautiful cherry cabinets, Corian counter-tops and stainless steel appliances. Over sized laundry room with deep sink. Large full bath, bedroom (currently used as an office) and bonus room complete the first floor. On the second floor, spacious and bright master bedroom, full bath with huge tiled shower and additional bedroom. Beautiful second floor apartment with the same meticulous details as the main home includes a kitchen, dining room, bedroom, living room and full bathroom. Easily accessible to Mass Pike and main highways. Large lot with beautiful landscaping.

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In today’s world, many people are concerned about the harm that chemicals may do. Especially in homes with pets and children, families may want to do everything to protect their loved ones from harm. Having chemicals in your home may not only be hazardous, but they could also aggravate certain health conditions like asthma and allergies. There are many things that you can use that are right inside of your own kitchen cabinets to do the same job of cleaning that industrial strength cleaners do. The best part s that you won’t need to worry about your kids or pets getting into dangerous materials. You may also be surprised at what a great job all of these natural cleaners do in cleaning up your home. If you’re trying to save money, you might also   


Stock Up On Supplies


The first thing you’ll need to do if you want to have all natural cleaning supplies is to stock up on the essentials. Specific items do a great job of cleaning that a part of any cleaning recipe. You’ll be surprised at how much you can scrub in your home with just a few simple items.  


Baking Soda


Baking soda is such a versatile cleaner. It does everything from deodorizing to act as an abrasive. You can use it in many places in your home from the kitchen to the bathroom to the plumbing.  


Vinegar


Vinegar works to dissolve scale, gets rid of mold, and cuts down on soap scum. It’s also a fantastic stain remover. It’s a great base to use in many cleaners from the kitchen counters to your shower.  


Hydrogen Peroxide


Peroxide is an eco-friendly cleaner that helps to whiten surfaces. You can even find this substance in your toothpaste!


Borax


This substance helps to cut grease, oil, and dirt. It’s great to clean stainless steel with and is a great stain remover.   


Essential Oils


Essential oils are great to add scent to any homemade cleaners that you have. Get anything from tea tree oil to lemongrass to lavender to eucalyptus scents and use them as a part of your natural cleaning recipes.

Homemade cleaning supplies can save you money, time and even space in your closets! It’s easy to see why stocking up on a few essentials can not only keep your home clean but your home and family safe from harmful compounds as well. Try cleaning with something natural and notice the difference in your home!       




22 Arrowhead Ave., Auburn, MA 01501

Single-Family

$389,900
Price

9
Rooms
4
Beds
3
Baths
Magnificent family residence expertly restored! Four bedroom cape in desirable Auburn boasts amenities galore! Enormous family room with fireplace, recessed lighting and new carpeting. Fully remodeled kitchen with sparkling new cabinetry and appliances, ceramic tile flooring and granite countertops. Separate dining room with large pantry and hardwood floors is perfect for family celebrations. Gleaming hardwood floors continue into the sunny living room and first floor bedroom. Full bath with ceramic tile floor and new fixtures. The first floor also includes a bonus room with glass sliding doors to a deck overlooking a private yard. Spacious master bedroom on the second floor is incredible, with space that may be used as a nursery, beauty room or You Tube studio! En suite full bathroom with new fixtures. Two additional bedrooms and another full bath complete the second floor. Over-sized two car garage and a corner lot. You must see this bright, lovely home!
Open House
Sunday
March 10 at 11:00 AM to 1:00 PM
Brokers send your buyers to this complete remodeled home , they will not be disappointed. More details call Caroline at 508-277-5491
Cannot make the Open Houses?
Location: 22 Arrowhead Ave., Auburn, MA 01501    Get Directions

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